Co-Founder @redstone_defi Oracles ♦️ Summoner @ETHWarsaw 🇵🇱 DeFi Ratings @CredoraNetwork 📊 Forbes 30u30
Warsaw, Poland
Joined April 2018
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More than 4 million addresses now hold stocks onchain, which puts them at an average of just under $800 each.
The holder base is wide and the tickets are small, the opposite of tokenized treasuries, where $1M+ wallets hold ~93% of the capital.
Tokenized stocks total $3.17B+ in onchain value.
Only 2.6% of that is used in DeFi.
Read our latest report with @FourPillarsFP and @AleaResearch, revealed at @TokenizeThisNYC Singapore edition, to learn why.
Features insights from: @Securitize, @DinariGlobal, @SuperstateInc, @extendedapp, @lista_dao, @JupiterExchange, @CredoraNetwork.
XRP Seoul throwback, with tokenized stocks flavour.
Catch the RedStone team next week at @RippleSwell in NYC 🇺🇸
The stock market keeps office hours. The rest of the world doesn't.
@MarcinRedStone of RedStone on why tokenized stocks are drawing demand from Asia and Europe: people want access to these assets whenever they're awake, not only when New York is.
New episode of The Meridian, recorded at XRP Seoul, drops next week.
Not investment advice or an offer of securities. Contains forward-looking statements; actual results may differ materially. Risk factors: sec.gov/edgar/browse/?CIK=20…
High yield can hide ugly risk.
Need to coin that term.
Credora.
🚨 High yield can hide ugly risk.
@redstone_defi Co-Founder @MarcinRedStone tells @graminitha1 at @KBWOfficial how Stream Finance ended in a “bank run” and why a zero-mispricing track record matters to institutions.
The quiet flex? Zero mispricing. Watch the full take. ⏬
2/ The signals are turning, though.
Deposits are up ~25% in a month.
Binance has been accepting bStocks as margin since Sep 21.
21% of SPYx on Solana already in lending.
24/7 pricing unlocks the collateral.
3/ Learn more about how tokenized stocks trade and work in DeFi in our dedicated report: redstone.finance/research/to…
Credora Insight: JPMorgan is about as safe a credit as you’ll find. Its tokenized deposit, JPMD, still scores almost 4x worse.
Credora rated JPMD this week. It’s the first tokenized deposit it scored. Indicative A+, 0.088% PD.
If you rate JPMorgan as a bank by itself, you get 0.023%.
So roughly three quarters of the risk has nothing to do with JPMorgan. It comes from the token layer: a contract that’s days old with no published audit, key custody nobody has disclosed, and no public reconciliation showing that tokens match deposits.
The fix is simple. Publish the audits. Say who holds the keys. Show tokens matching deposits.
Each of those lowers the PD on its own. With all three, JPMD drops to 0.035%, below every tokenized dollar and Treasury fund we rate. From 7th of nine to 1st, without changing anything about the bank.
One more point people mix up. A tokenized deposit is not a stablecoin with a bank logo on it. A stablecoin holder relies on a reserve pool. A JPMD holder has a claim on JPMorgan’s entire balance sheet. Those are different credit questions, and they need different math.
TradFi is coming onchain fast. The bank side is predominantly solid. The token side is where the risk sits, and that's exactly what Credora showcases.
J.P. Morgan's deposit token launched on Ethereum on 19 Oct. We rated it.
JPMD: A+ (indicative), Probability of Default (PD) 0.088%.
It positions as 7th of 9 rated tokenized dollars and Treasury funds, behind BUIDL and USDC. Everything that pulls it down sits in the token layer.
ALT Credora rating card for JPMD, J.P. Morgan's tokenized deposit on Ethereum and Base. Indicative rating A+, Probability of Default 0.088%, scored 19 Oct 2026. Anchor PD (bank) 0.023%, token-layer charge x3.89, largest charge -0.70 for smart contract.
Marcin Kazmierczak ♦️ retweeted
“All of a sudden the market is moving at the speed of light.”
Rob Krugman (@robkrugman), Chief Digital Officer at @Broadridge, on why long-term bets are hard in tokenization right now.
A year ago, most people expected tokenized equities in five to ten years. Six months later, they're here. His advice: expect the unexpected.
TokenizeThis Lisbon will be the main institutional side event around Stellar Meridian.
There are no coincidences.
In just a week: we’re hosting TokenizeThis Lisbon.
As an official side event of @StellarOrg’s Meridian conference, we’ll welcome a curated crowd of institutional decision-makers and builders on October 27.
Doors open at 4 PM. From there, panels and networking over drinks.
The scale and engagement of participants hit differently at XRP Seoul.
Korea is a strategic region for RedStone's expansion. And it will keep growing that way.
XRP SEOUL 2026 was truly unforgettable. 💫
5,000+ of the XRP Army, 40+ speakers, and one day that made Seoul the hub of the XRP ecosystem. 🌍
@XRPSEOUL 2027 is coming. Thank you for being part of the journey with @xrplkorea 💙
Marcin Kazmierczak ♦️ retweeted
“If we're not ready, we'll miss that opportunity.”
Victor Jung, Head of Digital Assets at @hamilton_lane, on serving the next generation: wallet-to-wallet stablecoin transactions and the option to borrow against their holdings.
That's where he says infrastructure like RedStone comes in.
Marcin Kazmierczak ♦️ retweeted
Tokenized stocks hit a record of about $3.3B (@RWA_xyz, 12 Oct).
But a “tokenized stock” can mean very different things. For @redstone_defi’s new tokenized stocks report, we mapped the issuers behind the market.
Same stock exposure, six legal instruments, six risk profiles.
ALT A single $AAPL ticker branching into six instrument types: tracker certificate, structured note, certificate, 1:1 dShare, debt security and registered share. Only the registered share is highlighted.
Marcin Kazmierczak ♦️ retweeted
"Tokenized equities have moved beyond proving that shares can exist onchain."
@carlosdomingo, CEO and co-founder of @Securitize, says the opportunity now is building a better market at scale.
That requires the right infrastructure and a clear link between the token and the share.
6/ For context, the total number of RWA holders (excluding stablecoins) is just above 5M.
Excluding stablecoins, tokenized stocks are by far the widest-held onchain RWA.
But concentration matters as well.
7/ The takeaway for builders: breadth is here, depth is the next milestone.
In our 2027 report, we’ll explore this deeper by blockchain and ticker.
If you missed this year’s one, catch up: redstone.finance/research/to…