| Collateral Type | Bitcoin (BTC) | Tokenized Securities | Tokenized Deposits / Cash | Traditional Securities |
|---|---|---|---|---|
|
|
Digital commodity | Ownership in real world assets | Bank liability (deposit token) | Financial instrument |
|
|
High | Low – Medium | Very Low | Low – Medium |
|
|
35% – 60% | 5% – 20% | 0% – 2% | 5% – 15% |
|
|
24/7 Global | Market Hours | 24/7 via Bank Rails | Market Hours |
|
|
Group 2b (Basel) | Varies by asset class | Liability of issuing bank | Established framework |
|
|
Credit, margin, financing | Repo, margin, financing | Settlement, liquidity | Financing, trading |