In Conversation with Tony McLaughlin

Tokenized money and blockchain technology represent a fundamental shift in financial record-keeping, moving from siloed, message-based systems to unified, 24/7 state machines. Tony McLaughlin, a former Citibank executive and founder of Ubix, Inc., posits that blockchain acts as a transparent ledger for tracking assets and liabilities across multiple balance sheets. While traditional banking relies on messaging protocols like SWIFT, tokenized deposits and stablecoins offer a more efficient, always-on alternative for global commerce. Banks must treat the adoption of wallet infrastructure as a critical strategic insurance policy to maintain their role as stewards of value. Ultimately, the core function of treasury management—balancing risk assets and liabilities—persists regardless of the underlying technology, whether paper ledgers, IBM mainframes, or decentralized blockchains. Embracing these digital tools allows institutions to adapt to an evolving, tokenized financial landscape.