Shared intelligence for next-generation economic infrastructure.

Georgia Charts a Pragmatic Path Toward Institutional Tokenization

A recap of the Intelligence Economy Institute's Tokenization Lessons from Georgia workshop in Tbilisi. Regulators, market infrastructures, banks, the public registry and international partners converged on a pragmatic, market-driven path: reinforce trusted institutions rather than replace them, let the market decide where tokenization adds real value, and treat real estate, capital markets, payments and financial inclusion as the priority areas. The binding constraint is not technology but institutional capacity, coordination and infrastructure design.

6 min read

AI Agents Don't Need Better Payment APIs. They May Need a Native Monetary Layer.

The debate over AI agents and money is usually framed as stablecoins versus bank APIs, but that comparison misses the real shift. Agents can already reach money through bank and payment-provider APIs; what they lack is a way to act as independent economic participants across organizational boundaries without a proprietary intermediary or a bespoke integration for every relationship. The consequential question is not faster payments but whether money itself becomes programmable, interoperable infrastructure, an open economic execution layer for the internet, with tokenized bank money and regulated settlement assets as likely as stablecoins.

6 min read

Members

Tokenization Lessons from Georgia

An independent policy and research study on how a small open economy can build a responsible tokenized-economy strategy. Its argument is that Georgia's tokenization potential does not come from technology alone, but from the institutional foundations built through public-sector reform, registry modernization, digital public infrastructure, financial-sector supervision, and macroeconomic credibility. The study asks a practical question: how can Georgia prioritize the use cases where tokenization genuinely adds value while safeguarding sovereignty, stability, legal clarity, and trust? Produced in partnership with the ReTech Center at École des Ponts Business School and supported by Hadron by Tether, it maps priorities across money and payments, capital markets, and real-economy finance, and frames Georgia as a potential responsible tokenization laboratory.

Institutional Tokenization Is Becoming Financial-Market Infrastructure

What the latest developments from DTCC, the UK government, Swift, the ECB, Securitize and Cantor Fitzgerald reveal about the next phase of digital capital markets. Read together, they show tokenization moving beyond representing assets toward the redesign of mainstream financial-market infrastructure, converging on a hybrid architecture in which regulated institutions keep authoritative records while distributed systems improve mobility, and in which the most defensible layers manage the seams between systems.

15 min read

Who Orchestrates Tokenized Money?

Tokenized money is arriving in three forms that do not convert at par: tokenized bank deposits, wholesale central bank money, and stablecoins. The strategic question is not which format wins, but who owns the orchestration layer — the layer that decides, for each transaction, which money is used, which rail carries it, in what sequence, under whose compliance, and how the cash leg settles against the asset. This report maps nine models competing for that layer along two axes — whether a player issues money or only moves it, and whether it is public or private — from coordination-and-messaging layers and edge aggregators to settlement utilities, single-bank networks, stablecoin issuers, native payment networks, public base layers, mutualized utilities, and neutral coordination protocols. One pattern runs through all nine: each model's core strength is also its structural risk, so the likely outcome is not a single winner but a negotiated stack. The deepest risk is concentration — whoever wins concentration wins a chokepoint — which makes the contest over the orchestration layer a question of sovereignty as much as of commerce.

Members

Climate Integrity Infrastructure — Volume I

Volume I of the Intelligence Economy Institute's study of the infrastructure behind high-integrity climate assets — MRV (measurement, reporting, verification), digital verification, registries, certification, and finance — produced in partnership with the ReTech Center at École des Ponts Business School. It moves from measurement to bankability, Article 6 readiness, and high-integrity environmental markets, establishing the foundations on which a tonne of abatement can be measured, trusted, and financed. Its organising discipline: a tonne that cannot be measured cannot be trusted; a tonne that cannot be trusted cannot be sold; and a tonne sold twice was never abated at all.