T+1 Settlements Are Under Pressure: What Comes Next for Market Infrastructure?
Jason Dussault
Chief Executive OfficerCo-Founder
This Post is disseminated on behalf of Intellistake Technologies Corp.
Most people don’t think about settlement cycles. They don’t need to. Trades happen, confirmations arrive, life moves on.
But behind the scenes, the plumbing still matters and right now, it’s under pressure.
For decades, public markets relied on T+2 or T+3, now settlements rely on T+1: trade today, settle one business day later. It worked when markets were slower, more local, and far less digital. Today, it’s starting to feel out of step with how capital actually moves.
That’s no longer a theoretical debate. Exchanges, regulators, and market operators are actively testing alternatives.
The NYSE has announced plans for a new venue designed around tokenized securities and on-chain settlement, pending regulatory approval. Nasdaq is exploring unified trading models where assets can settle in either traditional or tokenized form. Regulators in multiple jurisdictions are now openly examining whether existing infrastructure still makes sense in a world that increasingly expects real-time systems.¹, ²
At the same time, global policy bodies like the G20 and the Financial Stability Board have spent years trying to improve cross-border settlement speed, cost, and transparency but the progress remains slow.³
The message is pretty clear: the old rails are showing strain.
Access works both ways
We’ve already seen what happens when access is rebuilt in one direction.Traditional investors wanted exposure to crypto — but only through familiar, regulated rails. When products like spot Bitcoin ETFs arrived, adoption followed quickly.
One of the clearest proof points is BlackRock’s spot Bitcoin ETF.
It became the fastest-growing ETF in history, surpassing US$70 billion in assets in under a year4. That didn’t happen because it bypassed regulation. It happened because it worked within it.
The other side of that equation gets less attention.There are tens of millions of people globally who are already comfortable using blockchain-based systems; wallets, on-chain assets, decentralized platforms yet remain structurally excluded from public equity markets. Not because of lack of interest, but because the infrastructure doesn’t meet them halfway.
So, Tokenization done properly, isn’t about replacing exchanges or existing shareholders. It’s about adding an access layer — one that speaks the language of digital-native systems while staying inside regulatory guardrails.
That’s why institutions aren’t rushing products to market. They’re engaging regulators early and focusing on infrastructure first.
Where Intellistake fits into this conversation
This is the lens we’ve been working from at Intellistake.As a technology company focused on decentralized and digital infrastructure, we spend a lot of time on how systems actually work including custody, settlement, auditability, governance.
Earlier this week, we announced two steps in that direction:
• An
intended US$150,000 investment in a technology company developing infrastructure designed to support the tokenization of publicly listed securities.
• The submission of an
expression of interest to participate in Project Tokenization, a regulatory initiative led by the Canadian Securities Administrators (CSA).
5
This isn’t a product launch. It’s not a promise to tokenize shares tomorrow. It’s infrastructure work exploring how digital systems could interact with public markets in a compliant, regulator-engaged way.
Project Tokenization itself is early-stage and exploratory, focused on technology development, regulatory learning, and shareholder education. Participation isn’t guaranteed, and outcomes aren’t predefined.
That’s exactly the point.
Why this matters
Markets don’t modernize all at once. They evolve where friction is highest and where the tools finally exist to do better.
T+1 settlement isn’t broken. However, it’s increasingly under pressure from a world that expects real-time systems, global access, and digital-native infrastructure.
The open question now isn’t whether change is coming. It’s how thoughtfully it happens.
At Intellistake, our focus is simple: contribute at the infrastructure layer, as well as the aim to engage with regulators, and help explore what compliant modernization could actually look like.
Disclaimer
There has been significant volatility in digital assets and their value can decline rapidly, which in turn would lead to a decline in the stock price of companies holding digital assets. Intellistake is a start-up that does not have the same access to capital as other larger more established companies.
Intellistake has just commenced operating its business and is at an early stage of development. Intellistake is entering this space by acquiring and operating blockchain validator hardware that supports AI networks and investing in AI-related digital tokens to primarily operate validator hardware.
Intellistake is reliant on Orbit AI for the financing and technical execution of the planned satellite launches. Intellistake’s involvement is limited to providing the validator and node infrastructure. The amount of any future revenues or benefits that may accrue to Intellistake has not yet been determined.
Intellistake is presently evaluating the regulatory framework for tokenization. Any tokenization will be subject to it being completed in compliance with applicable law, regulatory requirements and terms of any underlying agreements associated with the underlying assets. The actual structure of such tokenization, the assets that would be subject to tokenization, and the associated timeline, have not yet been determined. Intellistake will provide further updates as material developments related to this tokenization strategy occur.
Intellistake is developing custom AI software systems called "AI Agents" for businesses. It recently announced the development of IntelliScope, a newly designed enterprise artificial-intelligence (AI) suite that applies decentralized AI technologies to deliver transparent and verifiable corporate intelligence. IntelliScope, which is in testing, is being publicly introduced as Intellistake's enterprise AI suite, reflecting the Company's focus on advancing practical applications of decentralized AI technologies.
The IntelliScope suite is being developed as a collection of modular AI agents, each intended to address specific enterprise challenges. Development has advanced through internal closed testing, where functionality is being refined and validated. Built to leverage decentralized AI technologies developed within the ASI Alliance FET token ecosystem, IntelliScope is now preparing to move into closed beta testing with an enterprise client, a phase focused on gathering feedback to shape premium features and expand real-world use cases.
The Company intends to deliver these solutions either as one-time projects or ongoing subscription services. Revenue is expected to come from implementation fees and monthly subscription payments. The Company does not presently have any customers. Intellistake is just commencing operations. It is targeting significant growth but its business is subject to several risks related to general business, economic and social uncertainties; the sufficiency of cash to meet liquidity needs; legislative, political and competitive developments; the inherent risks involved in the digital currency and general securities markets; the volatility of digital currency prices and the additional risks identified in the "Risk Factors" section of the Company’s filings with applicable securities regulators. Intellistake has not yet developed or commercialized its AI solutions.
Completion of the Singularity Venture Hub (“SVH”) acquisition remains subject to completion of satisfactory due diligence, the negotiation, and execution of a definitive agreement ("Definitive Agreement") that will include representations, warranties, covenants, indemnities, termination rights, and other provisions customary for a transaction of this nature, no objection from the Canadian Securities Exchange, and shareholder approval of SVH, if required.
This report contains "forward-looking information" concerning anticipated developments and events related to the Company that may occur in the future. Forward looking information contained in this report includes, but is not limited to, all statements in respect of the Company's growth and development, the operations and business segments of the Company, support for decentralized AI and blockchain networks, the details of the collaboration with Orbit AI and its expected benefits; the Company’s contributions towards the collaboration with Orbit AI; the timelines for Orbit AI’s operation; and Intellistake’s strategy to support tokenized, decentralized AI infrastructure.
In certain cases, forward-looking information can be identified by the use of words such as "expects", "intends", "anticipates" or variations of such words and phrases or state that certain actions, events or results "may", "would", or "might" suggesting future outcomes, or other expectations, assumptions, intentions or statements about future events or performance. Forward-looking information contained in this report is based on certain assumptions regarding, among other things, the Company and Singularity Venture Hub (“SVH”) are satisfied with their respective due diligence; the Company and SVH enter into a definitive agreement for the transaction; the Company and SVH satisfy all conditions necessary to close the proposed transaction; the Company will continue to have access to financing until it achieves profitability; the Company is able to raise sufficient financing to complete the announced investment into Orbit AI; obtaining the necessary regulatory approvals; the technology and blockchain industries in which the Company intends to focus its business in will grow at the rate and in the manner expected; the ability to attract qualified personnel; the success of market initiatives and the ability to grow brand awareness; the ability to distribute Company's services; the Company creates strategies to mitigate risks associated with cryptocurrency price fluctuations; the Company and SVH remain compliant with all applicable laws and securities regulations and applicable licensing requirements; the Company engages and collaborates with local experts, as necessary, to address jurisdiction-specific matters and ensures compliance with foreign regulations to avoid penalties; the Company addresses any potential cybersecurity threats promptly and effectively; the ability of the Company to develop its technology, acquire customers and have revenue; the ability to successfully deploy the new business strategy as a result of the change of business. While the Company considers these assumptions to be reasonable, they may be incorrect.
Forward looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results to be materially different from any future results expressed by the forward-looking information. Such factors include risks related to general business, economic and social uncertainties; the Company fails to raise sufficient financing to complete the announced investment into Orbit AI; Orbit AI is unable to raise sufficient financing to complete its launch of satellites on the timelines proposed or at all; technical risks associated with Orbit AI’s planned operations; failure of the Company and SVH enter into a definitive agreement for the transaction; failure of the Company and SVH to satisfy all conditions necessary to close the proposed transaction; failure to raise the capital necessary to fund its operations; inability to create strategies to mitigate the risks associated with cryptocurrency price fluctuations; the costs of regulation in the digital asset industries increase to the extent that the Company is no longer generating sufficient returns for shareholders; failure to promptly and effectively address cybersecurity threats; insufficient resources to maintain its operations on a competitive basis; and the actual costs, timing and future plans differs expectations; legislative, environmental and other judicial, regulatory, political and competitive developments; the inherent risks involved in the cryptocurrency and general securities markets; the Company may not be able to profitably liquidate its current digital currency inventory, or at all; a decline in digital currency prices may have a significant negative impact on the Company's operations; the Company's success may depend on the continued involvement of key personnel, including advisors, whose involvement cannot be guaranteed; institutional adoption of decentralized AI infrastructure remains uncertain and may not occur at the pace or scale anticipated; evolving regulatory frameworks, including those related to AI (such as Canada's proposed Artificial Intelligence and Data Act), may impose additional compliance burdens or restrict certain business activities; valuation figures are based on publicly available market data and internal assessments at the time of the referenced transactions and may not reflect current or future valuations; the volatility of digital currency prices; the inherent uncertainty of cost estimates and the potential for unexpected costs and expenses, currency fluctuations; regulatory restrictions, liability, competition, loss of key employees and other related risks and uncertainties; delay or failure to receive regulatory approvals; failure to attract qualified personnel, labour disputes; and the additional risks identified in the "Risk Factors" section of the Company's filings with applicable Canadian securities regulators.
Although the Company has attempted to identify factors that could cause actual results to differ materially from those described in forward-looking information, there may be other factors that cause results not to be as anticipated. Readers should not place undue reliance on forward-looking information. The forward-looking information is made as of the date of this report. Except as required by applicable securities laws, the Company does not undertake any obligation to publicly update forward-looking information.
