Recognition
Stellar Community Fund recognition.
Recipient of Stellar Community Fund support for designing and architecting an AI-powered, non-custodial, stablecoin-based payment system for cross-border settlements for SMBs and NGOs.
The Strategy & Architecture partner for digital assets and AI.
tracee advises banks, multilateral funds, and digital asset platforms on the design and deployment of the tokenized economy, compliant stablecoins, payment and settlement rails, and agentic financial workflows.
Awards and recognition.
Award
Circle Impact Award.
Winner of the Circle Impact Award for architecting a bulk-payment system that delivers funds to refugees and enables secure collection through SMS codes and MoneyGram access.
Circle Alliance Program
tracee is a Certified Member of the Circle Alliance Program, Circle's curated partner network for institutional builders deploying USDC and EURC payment, treasury, and settlement infrastructure.
View tracee on the Circle partner directoryPatent
AI patent, imminent approval.
Patent in advanced review stage, covering a multi-agent AI architecture for digital-payment platforms. Designed to automate transaction flows, enhance security, and deliver contextual, intelligent payment execution.
Trusted by teams across fintech and payments
What we work on.
Four practice areas where we hold the deepest tools and the longest mileage. Each engagement draws on whichever combination the decision requires.
Product strategy.
Translate regulatory posture into a product brief, a target architecture, and a roadmap engineering and risk can ship.
- Define the product brief, scope, and target architecture.
- Map institutional and operational user journeys.
- Translate regulatory posture into product constraints.
- Compliance scoping: KYC, AML, CFT, Travel Rule, GDPR.
- Deliver executable roadmaps for engineering and risk.
Stablecoin infrastructure.
Reserves, settlement, custody, oracles, and bank-rail integration. Designed against MiCA, NYDFS, and MAS.
- Design settlement flows, redemption windows, and reserve composition.
- Architect MiCA, NYDFS, and MAS-compliant issuance models.
- Select chains, custody patterns, and oracle architecture.
- Integrate with bank rails and treasury operations.
- Define operational liquidity and capital buffers.
Tokenized products.
Tokenized deposits, money-market funds, and real-world assets, engineered for institutional issuance and distribution.
- Tokenized deposits, money market funds, short-dated debt.
- Real-world asset frameworks for institutional issuers.
- Subscription, redemption, and corporate-action mechanics.
- Distribution architecture across regulated venues.
- Secondary-market design and tokenholder reporting.
Agentic AI workflows.
Treasury, KYC, and exposure workflows shipped from pilot to production with the guardrails regulators expect.
- Identify deploy-ready use cases across finance functions.
- Design human-in-the-loop oversight for agentic systems.
- Treasury reconciliation, KYC review, exposure monitoring.
- Define guardrails, escalation paths, and audit trails.
- Stage rollouts from pilot to production safely.
How an engagement runs.
01
Discovery call.
Thirty minutes, no charge.
02
Scoping document.
Within one week of the call.
03
Engagement proposal.
Scope, deliverables, and timeline, defined up front.
04
Weekly working sessions.
With your decision-makers in the room.
05
Decision-grade deliverables.
Documents your board can act on.
Recent reading
Latest briefings.
The cardholder is now a machine: Mastercard and Visa wire AI agent identity into the global payment rail.
On 10 June, Mastercard launched AP4M and Visa disclosed $70B annualized stablecoin settlement on the same day. Both card networks crossed from passive settlement to active agentic identity infrastructure. AP4M issues machine-grade payment credentials on Polygon, Solana, and Base, settling in USDC and RLUSD. The OCC final rule on 18 July is the gate.
Read briefingThe forms arrive before the final rule: OCC publishes weekly reserve and quarterly reporting for every permitted stablecoin issuer.
The OCC published draft PS-01 weekly reserve and PS-02 quarterly forms for all Permitted Payment Stablecoin Issuers on 12 June. The weekly cadence puts PPSI supervision closer to bank liquidity reporting than to fund disclosure. The 6,308-hour annual burden is a rounding error for Circle, a real barrier below $500M. Five charter holders wait on 18 July.
Read briefingThe investor list is the product: Wall Street commits $355M to the settlement layer it already runs on.
Digital Asset raised $355M led by a16z on 11 June, with ADIA, Apollo, BNP Paribas, HSBC, Citadel Securities, and Tradeweb among 25-plus investors. Canton processes $4T monthly; DTCC's Treasury tokenization targets October 2026. The investor list is the participant list. The cash leg for DvP is unresolved; 18 July sets the perimeter.
Read briefingThird issuance, four firsts: KfW turns a routine eWpG bond into Europe's DLT settlement lifecycle test.
KfW issued its third eWpG blockchain bond on 9 June, EUR 100M, with three experiments scheduled during its term: a Polygon to SWIAT/RL1 chain migration, a registrar change from Cashlink to DekaBank, and cash flows via ECB Pontes before its Q3 2026 launch. KfW ran its own DvP address for the first time. Pontes is the structural move.
Read briefingA deposit is a deposit: FDIC confirms chartered bank tokens keep deposit insurance, stablecoin holders do not.
The FDIC's GENIUS Act comment period closed 9 June with 338 submissions. Bank deposit tokens from chartered, FDIC-insured banks stay insured regardless of the recording technology; stablecoin holders get no pass-through coverage. For fiduciaries who need FDIC cover, the TCH tokenized deposit network has a pitch no non-bank issuer can match. 18 July completes the framework.
Read briefingNo bridge, no wrapper: Ripple deploys RLUSD across 40 blockchains via Wormhole NTT and keeps compliance in one place.
RLUSD expanded to 40-plus blockchains on 4 June via Wormhole's Native Token Transfers, reaching a $1.72B market cap as the 8th-largest stablecoin. Unlike bridges, NTT lets Ripple deploy canonical contracts everywhere and keep pause, freeze, and whitelist rights across all chains. It landed days after Mastercard added RLUSD and Japan's FSA opened its perimeter. Volume has not matched the infrastructure yet.
Read briefingLong-form analysis
Latest reports.
Stablecoin architecture for regulated issuers.
The design choices facing institutions preparing to issue or back a regulated stablecoin in 2026, across MiCA, NYDFS, and MAS regimes.
Preview the reportA board-ready assessment framework for the tokenized economy.
The methodology tracee uses to scope an architecture review. Capability map, decision matrix, and five evaluation axes.
Request the reportMulti-rail payments for emerging market disbursement.
An anonymized read of a disbursement program spanning six Central African countries. Rail selection, treasury operations, FX exposure.
Request the reportFrequently asked
Common questions about tracee
What does tracee do?
tracee advises banks, multilateral funds, and digital asset platforms on the design and deployment of the tokenized economy, compliant stablecoins, payment and settlement rails, and agentic financial workflows.
Where is tracee based?
tracee is based in Paris, France, and operates as Tracee SAS, a registered French company. Engagements are delivered globally.
Who founded tracee?
tracee was founded by Bassel Assaad, an engineer and inventor with 29 patents across five jurisdictions and a PhD in IT and systems from Sorbonne Universités. He is a UN advisor, and a senior expert in digital assets and AI in finance.
What kind of consulting does tracee offer?
tracee offers four engagement formats. Milestone-based mandates deliver strategic architecture and execution oversight on a fixed-scope basis. Embedded engagement places senior expertise inside the team on a daily-rate, continuing basis. Advisory provides an independent read on trajectory through recurring weekly, biweekly or monthly sessions with written debriefs. Executive workshop is a private session scoped to the work.
What topics does tracee specialise in?
Four practice areas: stablecoin infrastructure (settlement flows, MiCA / NYDFS / MAS issuance, custody, oracles), tokenized products (deposits, money market funds, real-world assets), agentic AI workflows (treasury reconciliation, KYC review, exposure monitoring), and product strategy (KYC, AML, CFT, Travel Rule, GDPR compliance, executable roadmaps for engineering and risk).
Who are tracee's clients?
tracee advises banks, multilateral funds, digital asset platforms, and fintech CFOs. Current mandates include a UN multilateral climate fund (digital payment and AI infrastructure across six Central African countries) and a digital asset platform with a South African footprint.
How do I work with tracee?
The first step is a 30-minute discovery call, free and without obligation. Book a call or email hello@traceeapp.com.
Does tracee publish research?
Yes. tracee publishes long-form reports on the architecture of the tokenized economy. Recent publications include Stablecoin architecture for regulated issuers, A board-ready assessment framework for the tokenized economy, and Multi-rail payments for emerging market disbursement. Browse reports.
Start with a conversation.
Thirty minutes, no slide deck, no obligation. We listen, we assess fit, and we tell you whether we can help.