Publications
Research and writing on digital money
The thinking behind the advisory — a book in progress, event debriefs, and ecosystem analysis grounded in Stablemap data.
Software-Defined Money
How assets, rails, and markets converge on one programmable stack, and who ends up controlling each layer.
The book maps that stack as it stands — from the assets and the chains beneath them to payment networks, institutional plumbing, tokenized funds, market data, onchain credit, and the venues where the two worlds meet. Seventy-seven companies, named and placed. Twenty-three chapters in nine parts.
Nothing here is speculative. Every rail, fund, network and protocol described in these pages is live, named, and dated, with the participants listed and the failures included.
By Riad Lemhachheche — Founder & CEO, Aequus Money.
Recent writing
Event debriefs →Money20/20 Europe — what mattered in Amsterdam
Stablecoin settlement moved from panel talk to product demos. Field notes and who to watch.
MiCA one year on: what issuers actually changed
Reserve disclosures, e-money licensing, and the quiet consolidation among European issuers.
The corporate treasury case for stablecoin rails
Where the working-capital gains are real, and where the operational cost still outweighs them.