Four Pillars Research

: : [Institution/Comment] Who Is Directly Aligned with the SEC’s Innovation Exemption?
Written by 100y

The SEC’s recent Innovation Exemption for tokenized stocks is a major positive for the tokenized securities ecosystem, but it’s important to distinguish which companies and platforms are actually positioned to benefit from it.

🌎 Full Comment (X / Website)

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: : FP Validated to Host Solana Institutional Event with Sanctum, Orca and DFDV

FP Validated, the validator brand of Four Pillars, will join Sanctum, Orca and DeFi Development Corp. (Nasdaq: DFDV) for Solana Onchain: Institutions, Tokenisation & Staking in Seoul on Oct, 1st, with support from Superteam Korea and the Solana Foundation.

The intimate institutional event will bring together investors, allocators and leading digital asset participants to discuss institutional adoption of Solana, tokenisation and staking, and where the next opportunities are emerging across the onchain economy.

Drawing on Sanctum’s institutional staking and liquid staking infrastructure, Orca’s onchain liquidity and tokenised asset markets, DFDV’s experience operating a public-company SOL treasury, and FP Validated’s institutional-grade validator infrastructure, the discussion will examine how institutions are engaging with Solana today. The program will also explore the role of staking and liquidity infrastructure as tokenised assets and onchain capital markets continue to expand.

[Event Overview]

• Event Name: Solana Onchain: Institutions, Tokenisation & Staking
• Date and Time: Oct, 1st, from 10:00
• Venue: Seoul, exact location provided upon registration approval
• Hosts: Sanctum, Orca, FP Validated and DeFi Development Corp. (DFDV)
• Supported by: Superteam Korea and Solana Foundation

📱 X Post
📰 Registration Link: Luma

FP Validated Website | Telegram (EN / KR) | X (Global)

: : Four Pillars to Co Host Solana Summit Korea with Superteam Korea and Solana

Four Pillars will co host Solana Summit Korea with Superteam Korea and Solana on September 30 at Yeouido, Seoul during Korea Blockchain Week 2026.

The private, invitation-only conference will bring together Korean financial institutions, global Solana ecosystem teams and policymakers to discuss RWA & tokenization, stablecoin issuance & payments, and the infrastructure required for institutional adoption. Sessions feature Hanwha Asset Management, Shinhan Asset Management, Shinhan Card, Bitwise, Galaxy Digital, Anchorage Digital, Tether and the Solana Foundation, alongside Korean securities firms preparing for tokenized markets and KRW stablecoins.

We will also unveil our latest Solana research report at the Summit covering real companies, real assets and real integrations already live on Solana.

- Date: September 30, 2026 (Wed)
- Venue: Yeouido, Seoul (exact venue disclosed to approved ticket holders)
- Hosts: Superteam Korea, Four Pillars and Solana
- Admission: Invitation-only, application-based

This summit is by invitation only, and admission is application-based due to limited venue capacity. If you are interested in attending, please apply via the link below.

📱 X Post
🌟 Apply for Tickets

FP Website | Telegram (EN / KR) | X (EN / KR)

: : Four Pillars and Further Asset Management are joining forces to advance institutional blockchain adoption

As part of this strategic partnership, Further is investing in Four Pillars, bringing together our regulatory presence and institutional network across the UAE and wider MENA region with the company’s research and on-chain infrastructure expertise.

Together, we aim to advance the development of compliant, chain-agnostic and interoperable digital asset infrastructure for institutional-scale adoption.

📱 Announcement
📰 Articles (1, 2, 3, 4)

FP Website | Telegram (EN / KR) | X (EN / KR)

: : FP Validated to Host Institutional Strategy Event CODED@KBW with Google Cloud and LINE NEXT

FP Validated, the validator brand of Four Pillars, will jointly host CODED@KBW with Google Cloud, LINE NEXT, Optimum and Auros on September 29 at Google for Startups Campus in Seoul.

The institutional strategy event will bring together global blockchain companies, Korean financial institutions and digital asset businesses to discuss scalable blockchain infrastructure, institutional participation, KRW stablecoins and real world payment demand.

Drawing on the operating experience of Four Pillars, Optimum, Lido and other global industry participants, the program will examine the technical and operating requirements for institutional blockchain adoption. Discussions featuring Toss, Bithumb, LINE NEXT and other service providers will also explore how financial institutions are preparing for KRW stablecoins and what users need from payments and other practical services.

[Event Overview]

• Event Name: CODED@KBW
• Date and Time: September 29, 2026, 15:00 to 20:00
• Venue: Google for Startups Campus, B2, 417 Yeongdong daero, Gangnam gu, Seoul
• Hosts: FP Validated, Google Cloud, LINE NEXT, Optimum and Auros

📱 X Post
📰 Registration Link: Luma
📝 Press Coverage: Nexblock Article, Etoday Article

FP Validated Website | Telegram (EN / KR) | X (Global)

: : Four Pillars Partners with FnGuide on Joint Digital Asset Research

Four Pillars is partnering with FnGuide, one of Korea’s leading financial information providers, to develop and publish joint research reports on digital assets.

The partnership will combine FnGuide’s institutional network and quantitative data analytics capabilities with Four Pillars’ blockchain expertise to deliver research tailored to institutional clients and produce dedicated research reports on blockchain protocols.

📰 Articles (1, 2, 3, 4, 5, 6, 7)

FP Website | Telegram (EN / KR) | X (EN / KR)

: : [Crypto/Comment] Price Volatility and Sustainable Decentralization: Lessons from Aptos
Written by Rejamong

Over roughly two years, Aptos’ estimated average annual gross rewards per validator fell 96%, and validator numbers dropped 42%. Sustainable decentralization requires resilient operators and manageable costs for smaller validators.

🌎 Full Comment (X / Website)

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: : [Institution/Report] Beyond the Dollar: The Conditions for Sovereign Debt Tokenization, and
Why Korea Is the First Clean Test
Written by Sam Shim (Meritz Securities), Data supported by 100y

- Tokenized US Treasuries reached about 15.9 billion dollars in July 2026, and technology was only part of it. The dollar market had supplied a fund structure institutions were allowed to hold, demand that existed before the first token, and recurring fee income.

- Token standards, custody, and settlement are now available off the shelf, so infrastructure is no longer the constraint. Products outside the dollar are still under a tenth of tokenized government debt, and that number measures what has been built rather than what investors want.

- Demand starts with stablecoin reserves, because a coin wants its backing in its own currency and onchain. Only a tokenized government bond in that currency is both, which makes reserves the only demand proven so far, while collateral and diversification have not appeared yet.

- Korea has most of what that demand sequence needs in one market, and foreign investors can already buy its bonds. Bond sourcing and won conversion run through domestic infrastructure, and a won stablecoin already holds a tokenized Korean government bond in reserve, though only at symbolic size.

- The whole argument rests on one bet, that what is missing is the product, not the appetite. The strongest objection is that onchain capital structurally prefers the dollar, and the report sets out the evidence that would settle it stage by stage.

📱 Report Summary
🌎 Full Report

FP Website | Telegram (EN / KR) | Twitter (EN / KR)

: : Four Pillars to Co-Host Institutional Privacy Day @ KBW 2026 with Citrea

Four Pillars will co-host Institutional Privacy Day @ KBW 2026 with Citrea on September 30.

The closed-door event will bring together institutional investors, fund managers, custodians, policymakers and privacy builders to explore how institutions can conduct financial activity on-chain while protecting confidential information.

Talks and panels will examine privacy technology for institutional DeFi, alongside networking opportunities for institutional participants in the Bitcoin ecosystem.

[Event Overview]

📅 September 30, 2026, 12:00 to 18:00 KST
📍 Seoul, exact location shared with approved guests

Attendance is by invitation and approval, with limited capacity. Apply through the registration page below.

📱 X Post
🌟 Luma

FP Website | Telegram (EN / KR) | X (EN / KR)

: : [Crypto/Report] All About x402
Written by Jun

As agents begin to make purchasing decisions and execute purchases, the way APIs, data, and computing resources are traded will change. x402 is an open payment specification that integrates pricing, payment authorization, and settlement into software workflows. What markets will emerge, and who will capture the economic value?

All About x402 explores the protocol’s core architecture and extensions, then examines how agentic commerce could evolve. It analyzes market scenarios based on the scope of delegated purchasing authority, examines value capture across ecosystem participants, and compares how Cloudflare, AWS, Google, and Fastly are integrating agent payments into their existing businesses.

The report also brings together perspectives from ecosystem participants building and using x402. From the value of precise data to service quality, trust, and payment rail neutrality, it addresses the questions that must be resolved for agent payments to develop into a functioning market.

📱 Report Summary
🌎 Full Report

FP Website | Telegram (EN / KR) | Twitter (EN / KR)

: : HARVEST:New Rails - RWA, STO Networking Night

Networking event connecting Korea’s institutional finance community with the global digital asset ecosystem.

​Join us in shaping the digital asset market together with Shinhan Securities on finance’s New Rails

🏢 Hosted by Shinhan Securities, Pantera Capital, and Four Pillars
📅 October 1, 2026 · 7:00–10:00 PM KST

📱 X Post
🌟 Luma (Invite-Only)

FP Website | Telegram (EN / KR) | X (EN / KR)

: : How Can Institutional-Grade Blockchain Infrastructure Earn Trust?

- FP Validated, the validator and blockchain infrastructure arm of Four Pillars, began scaling its operations in earnest earlier this year with some of Korea’s most experienced engineers. We are rapidly building a track record of infrastructure deployments and operations for global protocols and institutions.

- Trust in blockchain infrastructure requires more than simply keeping nodes online. FP Validated has built an institutional-grade operational framework covering access controls, key management, incident response, security, and change management. We recently obtained our SOC 2 Type I audit report and are now preparing for a Type II audit.

- Through our newly launched tech blog, we will share the technical decisions, incident response experience, security principles, and operational knowledge we have gained from running blockchain infrastructure in production. By combining deep protocol research, reliable infrastructure operations, and verifiable controls, we aim to build an onchain foundation that institutions can trust.

🔧 Tech Blog Link
🔍 Ecosystem Research Link

FP Validated Website | Telegram (EN / KR) | X (Global)

: : Meet Four Pillars during KBW & Token2049 🇰🇷🇸🇬

From Seoul to Singapore, we’ll be co-hosting 16+ events and joining 7+ events as a partner across two of Asia’s biggest crypto weeks.

Here’s the full lineup 👇

🇰🇷 Mon, Sep 28: OFF THE RECORD, Hyperliquid Community Dinner Seoul, EastPoint 2026, Hyperliquid Seminar Korea, Ethereum Korea Week Day 01 (Institutional)

🇰🇷 Tue, Sep 29: Ethereum Korea Week Day 02 (Retail), CODED@KBW, Solana Summit Private Dinner, ASA x The Capital Summit Private Dinner, Korea Blockchain Week 2026

🇰🇷 Wed, Sep 30: Solana Summit Korea, Institutional Privacy Day

🇰🇷 Thu, Oct 1: Asia Stablecoin Conference VIP Breakfast, RealFi x Asia Stablecoin Conference, Asia Market Dinner, Four Pillars Research Challenge 2026 Awards Ceremony, Shinhan x Pantera x Four Pillars Dinner, HSC Conference Seoul

🇰🇷 Fri, Oct 2: Consumer Crypto Day

🇸🇬 Tue, Oct 6: APAC Enterprise & Tokenization Breakfast, The Capital Summit x Asia Stablecoin Conference, APAC Onchain Capital Markets Dinner

🇸🇬 Thu, Oct 8: HSC Asset Management Singapore

See you in Seoul and Singapore!

📱 X Post

FP Website | Telegram (EN / KR) | X (EN / KR)

: : [Asia/Issue] Singapore Pushes Tokenized Deposit to Cross Border (ASA News #31)
Written by ASA, Heechang

[News #1] Singapore Connects Tokenized Deposits to Domestic and Cross Border Settlement
✍️ Banks Upgrade the Payment Rail

[News #2] Korea Weighs Stablecoin Savings Against Monetary Risk
✍️ Payment Benefits Meet Monetary Policy

[News #3] Japan Builds a Full Stack Onchain Finance Model
✍️ Integration Moves From Issuance to Usage
—
[ASA News] is a weekly newsletter where we share the most important stablecoin-related news across Asia, along with commentary from industry insiders. (Subscribe to the Newsletter)

📱 X Post
🌐 Full Article (Website)

FP Website | Telegram (EN / KR) | X (EN / KR)

: : [Crypto/Article] Why Crypto Businesses All Look the Same Now
Written by 100y

- Many of crypto’s onchain experiments are shutting down or pivoting without ever proving PMF, and that trend has become even clearer in 2026.

- The onchain market is increasingly polarizing between areas that absorb speculative demand, such as memecoins, perpetual futures, and prediction markets, and areas connected to the real economy, such as stablecoins, RWAs, and vaults.

- As the number of viable markets narrows to a handful of categories, companies that started from very different positions, including Coinbase, Robinhood, MetaMask, and Kalshi, are converging on the same product stack: perpetual futures, prediction markets, memecoins, stablecoins, and RWAs.

- This does not mean the end of onchain-native businesses. Just as a few sectors have matured and proven independent product-market fit, new categories can still emerge through experimentation and develop into sustainable markets.

📱 X Post
🌐 Full Article

FP Website | Telegram (EN / KR) | X (EN / KR)

: : [Newletter] CLARITY Act Faces the Senate, $LAPTOP Faces Reality (Week 38, 2026)

🗞 Major News
- [Institution] CLARITY Act Faces Its Final Test Ahead of a Key Senate Vote on September 15
- [Crypto] Hunter Biden's $LAPTOP Falls 99% After Briefly Reaching a $110 Billion Market Cap

📊 Data Spotlight
- Snapshot on Tokenized Asset Market: Issuers, Venues, and Assets
- Ethereum DVT: Are SSV and Obol Actually Being Used?

✍️ Four Pillars Weekly
- The Dawn of Public PnL
- Monthly EIP - Aug 2026 (ft. What Robinhood Chain's Success Reveals About L2 and Ethereum's Dilemma)
- Blockchain Abstraction: The Next Frontier

🌎 Full Newsletter

FP Website | Telegram (EN / KR) | X (EN / KR)

: : [Data/Comment] Snapshot on Tokenized Asset Market: Issuers, Venues, and Assets
Written by Heechang

I think 2027 will be the defining year for tokenized assets, and the signals are already showing up in this year's data. RootData shows the competition moving past the question of who can issue the most products, toward who can actually distribute and execute.

🌎 Full Comment (X / Website)

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: : [Data/Comment] Ethereum DVT: Are SSV and Obol Actually Being Used?
Written by Rejamong

One-sixth of Ethereum's stake now runs on the DVT networks of SSV and Obol. That demand comes from the token incentives both protocols mint on top of staking rewards. Third-party incentives, in effect, are raising the resilience of the Ethereum network.

🌎 Full Comment (X / Website)

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: : Four Pillars Research Challenge 2026 is coming to a close!

After a month of research, collaboration, and competition, the Four Pillars Research Challenge 2026 is coming to a close. Now, it’s time to bring everyone together.

On October 1, we’re hosting the Four Pillars University Research Challenge 2026 Awards Ceremony & Offline Event. The evening will feature awards and winning team presentations across all four research tracks, giving the winning researchers a chance to share their work and insights directly with the community.

✏️ Cantor 8 Track: Explore either the economic security risks of PoS blockchains holding large amounts of RWAs, or the legal and criminal risks associated with issuing stablecoins on public blockchains.

✏️ Metamask Track: Reseasrch LLM-based security, formal verification, or AI-assisted smart contract security, with MetaMask’s Agent Wallet as a practical case study or real-world application.

✏️ Solana track: Dive into Solana’s core technologies and protocols, including topics such as Alpenglow, SIMDs, and Firedancer.

✏️ SurfAI track: Research any topic using Surf AI, with active use of the platform for data analysis, charts, tables, and other research materials.

📅 October 1, 2026
📍 Hashed Lounge, Gangnam
🕕 Doors Open: 18:00
🏆 Awards & Winning Team Presentations: 19:00–20:40
🤝 Networking: 20:40–21:30

Come celebrate the teams behind this year’s Research Challenge, hear directly from the winning researchers, and connect with Korea’s university blockchain community. See you in Gangnam on October 1!

📱 X Post
🌟 Luma

FP Website | Telegram (EN / KR) | X (EN / KR)

: : Four Pillars to Host the 2026 Digital Asset AI Summit with Bithumb, Surf AI and BitGo

Four Pillars will jointly host the 2026 Digital Asset AI Summit with Bithumb, Surf AI and BitGo on September 17 at Sofitel Seoul.

The private conference will bring together approximately 50 institutional and industry participants and media representatives to discuss AI applications across exchange services, research and institutional infrastructure.

Drawing on our joint research with Surf AI into Asian centralized exchanges, we will examine how traditional financial institutions are entering the digital asset market and the role exchanges play in connecting these markets. We will also share practical examples of how we use AI in our research workflows and validator operations.

- Event: 2026 Digital Asset AI Summit
- Date: September 17, 2026
- Venue: Sofitel Seoul
- Hosts: Four Pillars, Bithumb, Surf AI and BitGo
- Participants: Approximately 50 representatives from institutions, industry partners and the media

This seminar is by invitation only, and attendance is limited to those who have received a prior invitation. If you are interested in attending or have any related inquiries, please send a direct message to @heechang_FP

📱 X Post
📰 Coverage (Edaily, Hankookilbo)

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