Blockchain for the Big Boys and Agents with Change

Hello friends and welcome to our March installment of Crypto: Decrypted. Obviously, war is on everyone’s mind. It is the thing that is dominating news, impacting markets, influencing financial decisions and, well, consuming us. Over the course of the previous month we learned a lot of things about blockchain and crypto in the midst of this conflict. Perhaps more importantly, however, while everyone was focused on the Middle East, there were quite a few breakthrough events that occurred in the world of blockchain and crypto, many of which were drowned out by the noise of conflict. Fear not, however, because I’m going to highlight the big ones here, and there are some that will absolutely shape the future of finance and, our world. Let’s go!

Wartime’s Safe Haven?

So, let’s start with war, and specifically, how Bitcoin has been holding up. Long having been touted as digital gold and a safe haven, Bitcoin likes to be that. Sometimes. Just as when Israel and Gaza heated up, the US/Iran war presented a real time pop quiz. The result: Bitcoin passed. Barely. But hey, a pass is a pass. What we can say, confidently, is that it behaved like a safe-haven more than any other asset. In fact, JP Morgan noted: Bitcoin has seen inflows and stronger activity during the Iran war, while gold ETFs saw outflows and silver flows unwound. That’s interesting. What we see is that, following a quick retreat upon the start of the war, Bitcoin recovered and held its own, even eeking out a positive month by a hair. I think that’s interesting to note. You see, crypto is the asset that many love to hate. When it goes up, the OG say “told you so” when it goes down the haters say “told you so”. But, as in life, it’s not about being right. It’s about purpose. I personally have no doubt that as the years progress, this purpose will continue to be realized. Again, let’s pay attention to what this asset actually is, what it actually does, and not only what the current price is. It’s bigger than that.

Big Boy Blockchains

Now let’s pop the stack and look at blockchain in general and Wall Street’s desire/mandate/obsession to getting everything on chain. The New York Stock Exchange is pursuing a strategy of integrating blockchain technology into its existing market infrastructure rather than replacing traditional systems outright. The benefits anticipated are many and include harnessing improved regulation, centralized clearing and even enhanced investor protections. It is the next step to the credo “tokenize everything”. And it is happening. At the beginning of the year it was noted that the NYSE is building a tokenized stock platform using blockchain. Nasdaq is following suit, already getting the blessing for its tokenized framework from the SEC. Not only will these systems provide instant settlement, they will boast the ability to trade markets round-the-clock. Just as we moved from brokers in a pit brazenly managing paper slips to online brokerages that provide an elegant trading desk on everyone’s laptop, this certainly seems to be the evolution of our markets. And, why not? This is because of what blockchain is, a foundational technology that allows for the frictionless exchange of digital goods. And it’s happening, which is why we have to take it with a big grain of salt when the naysayers say “nay.” This is bigger than opinion. It’s bigger than faith. It’s perhaps bigger than any technology that’s come yet. No, it’s not as sexy as AI, but it will work in conjunction with AI as a foundational, fundamental layer. Decades ago there was no Google. Yet today we can’t live without it. Heck, just a few short years ago there was no AI, no Chat GPT or Claude. Today it’s becoming a part of our daily lives. So it boggles my mind when I still see resistance, and the only thing I can think of is that it simply stems from bad press and misunderstanding of what these technologies are really for. Are there plenty of garbage tokens out there? Sure! Just as there were plenty of garbage websites back in the day (heck, and even today!) The fact that blockchains allow peer-to-peer data exchange without a middleman is the breakthrough technology that will be the bedrock on tomorrow’s systems. Not because I say so. But because it works, and because it’s already being implemented by the biggest and best in the world.

And, not to be outdone, the CME has jumped into the fray, with the possibility of their very own “CME Coin”. Which of course, begs an eye-roll and the question why in the heck do we need a CME Coin???” Well, the CME is the largest derivatives exchange in the world, and every futures or options contract requires margin. Such a coin would be focused specifically on this topic. Consider that Margin gets settled during banking hours. By tokenizing margin, for example, and having it on a 24/7 chain with instant settlement, a CME coin, if launched, guarantees collateral availability and sits at the center of trillions of dollars of derivatives trading. It’s not a coin that manages payment. It’s a coin that manages risk. This wouldn’t be something trading on the open markets and definitely not for retail investors. It’s TradFi adopting blockchain for a real purpose. I won’t rant again but… I know you can hear it. This stuff is really useful.

Finally, as if that wasn't enough, Intercontinental Exchange, the parent company of the NYSE, made a strategic investment in OKX, one of the world's largest crypto exchanges, valuing it at $25 billion and taking a board seat. If you needed one more signal that TradFi isn't just watching crypto from the sidelines anymore, consider this your sign.

Hyperliquid Happenings

Meanwhile, now that we’ve addressed the big boys as well as Bitcoin, let’s look at another way this technology is being implemented. There is one in particular that is drastically changing the way trading is done, and it’s called Hyperliquid. Let’s start with basics. So, we are all familiar with centralized exchanges. Whether it’s for equities (Nasdaq) or crypto (Coinbase), centralized exchanges are intermediaries that accept buys and sells and ensure they are cleared. For a fee of course. One of the things blockchain technology has opened up is the concept of a decentralized exchange, a system that simply pairs buyers and sellers and allows them to transact directly. This is what Hyperliquid does. It’s a decentralized exchange. On steroids. It’s as fast as a central exchange. And like the CME, it’s focused mainly on futures (in this case a specific type of future called a perpetual that never expires). Unlike the CME there is no middle man and it can operate, matching buyers and sellers, 24/7.

Last month we discussed DeFi, well this is DeFi at scale and working in the real world. And, that’s all primer, because it’s not just for crypto. In early 2026 Hyperliquid launched Oil contracts which has been a game changer. Access to this has driven growth to over $1.4B in open interest9 allowing individuals to trade oil contracts round the clock, round the world, without a middleman. This brings us right back to the war of course. While Trump has seemingly made a habit of making key announcements outside of market trading hours, Hyperliquid allows immediate, and timely, market participation. Is it any wonder why CME is looking at a tokenized solution? With Hyperliquid now generating roughly $1B in annual revenue it’s a new player that is making the traditional major players like CME, pay attention. (Note: because of the type of contract traded Hyperliquid is not available in the United States… but I think that’s just a matter of time.)

Crypto Comes Home

And, for the coup de grace, let’s take a peek at how crypto is changing home buying because now Fannie Mae will accept crypto backed mortgages. We talked about this last summer and now it’s happening, as this month a new product was just announced that will allow crypto to be used as collateral for a Fannie Mae backed mortgage. Not a sideshow company. Fannie Mae. Game. Changed. A 2025 Redfin survey found that almost 13% of millennial and Gen Z recent home buyers sold crypto investments to help fund their down payments. That’s interesting, but what is more interesting is that there are a lot of people sitting on bitcoin and many other cryptos that simply don’t want to sell. Ostensibly, this would be because they expect that over the coming years the value of such holdings will grow exponentially. This has created a dilemma. Do I sell and buy a home and risk losing upside? Well, dilemma no more because now our dear hodlers can literally have their crypto and live in it too. Mortgages through this program are offered at a little higher rate but that’s a small price to pay in my opinion because here’s what’s really interesting. The collateral needs to be pledged to the mortgage BUT if the value of that collateral falls it doesn’t affect the mortgage in any way (as long as payments are being made). So our true believers can ride the volatility waves fearlessly and, if the value of the crypto grows, it allows said crypto-holding-homeowner to enjoy the increased value of such assets. Holders keep their crypto. More houses sold. Risk mitigated. Economy stimulated. It’s a Win/Win/Win and who doesn’t like a win? It’s also one more reason that I, personally, always suggest that those that want to participate in these markets do so by holding the underlying asset directly. Win.

BlockchAIn

And now, last but certainly not least, our beloved blockchAIn section. And hang onto your hats, this one’s a doozy. Almost a year ago I highlighted what I call the M2M (Machine to Machine) economy, specifically that Bosch was piloting a project where electric cars could negotiate with electric chargers all on their own and, ultimately consummate a transaction.

Well, we just got a whole lot closer to that in March. A few years ago we gave AI a brain. In March 2026 we gave it a wallet. That’s right. With all the hoopla about AI agents able to do things and indeed, Microsoft reported in February that 80% of the fortune 500 have deployed agents to actually execute actual tasks. But if the agent wanted to actually transact? Nope. They needed to call on their trusty human, because AIs don’t get bank accounts. However now, thanks to Alchemy, in March of 2026 your agent can have a wallet. Which means your agent can transact. Think about it. AI agent analyzing data but needs more data from another source behind a paywall? No problem. No delay. AI Agent needing more compute to get a job done? No problem. No delay. AI agent handling your taco delivery? (Arguably the most important task of the day.) No problem. No delay. No need to interrupt and distract that human to send payment. AI Agents can now, using stablecoins, send payments when they want. It’s Software paying software. This is the moment I’ve been anticipating and it’s now here, because the reality is that crypto is really designed for behind the scenes. Particularly, machines transacting with machines. (I mean, it’s in the name. Cryptocurrency.) Blockchain gives AI the financial rails that traditional banking never could. Practical? Yes. Scary? A little. Efficient? Of course. So, while so many are watching the markets, these agents, and their blockchain friends are becoming the market. And that, my friends, is why I say from my purview, all of this points to a bullish future. So get in now while you can because who knows, in the future, your competition for that financial instrument or investment may very well be an AI.

In Closing

Well, while the war sucked up the oxygen in March there was plenty of action in the world of blockchain and crypto. Tokenization took leaps and bounds forward for TradFi players, while DeFi players put exchanges on notice that there might be a new Sheriff on the way to town. Meanwhile, crypto can now underwrite your home and heck, in the future your AI agent may be able to actually do the whole transaction for you. This is the future. It’s happening now. This is why I have been saying the demand wave is coming. This is why I remain so bullish on these markets. And this is why, if nothing else, we are in for one heck of a ride.

That’s all for now! Until next time be well, stay safe, and I’ll keep Decrypting Crypto for you!