As the year comes to a close, we would like to take…
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![Tokenized Real-World Assets (from [1], [2], [3] - note: we avoid stablecoins for interbank, but tokenization of real assets is different)](https://paacapital.com/wp-content/uploads/2025/12/featured-tokenized-real-world-assets-from-1-2-3-note-we-avoid-stablec-410x230.jpg)
In early December 2025, a mid-sized African agritech fund closed a $40…
On a humid Monday morning in Gaborone, our treasury lead flagged something…
It was a cold December morning in Gaborone when my phone pinged…
It started over breakfast in Gaborone. A client—a seasoned private equity partner—leaned…
![Stablecoins Rivaling Interbank Settlement (from [1] and [3])](https://paacapital.com/wp-content/uploads/2025/12/featured-stablecoins-rivaling-interbank-settlement-from-1-and-3-410x230.jpg)
In June 2025, a mid-sized European bank quietly settled a $10 million…
It started with a five-second delay. On a routine Friday afternoon, a…
“You’re looking at three days, maybe five if there’s a holiday in…
Will Stablecoins Replace Bank Rails? Disrupting the Interbank Settlement Layer
In July…