Banks saying "We're using blockchain" might no longer be news.

I often find myself reflecting on how many times I’ve seen headlines about major banks utilizing blockchain technology over the past few years.

In 2019, Société Générale issued €100 million in covered bonds on Ethereum. In 2022, UBS issued a digital bond worth 375 million Swiss francs. J.P. Morgan has also launched "JPMD," a dollar deposit token for corporate clients, on the Base network.

Of course, the mechanisms and objectives differ in each case. Yet, it feels like the time when the mere fact that a "bank used blockchain" would come as a surprise has passed. Personally, I’ve recently found myself focusing less on the specific blockchain being adopted and more on what can actually be executed on that platform—and the long-term vision driving these initiatives.

The two articles I wrote in August also focused on this very intersection of finance and crypto assets.