The 'blockchain for banks' pitch has been everywhere—mostly empty hype. Now we're seeing real infrastructure.

The key difference: a hybrid model that actually works. Public chain handles liquidity, private compliance-ready subnets serve institutions. No shortcuts, no regulatory theater.

This architecture matters because $100 trillion in institutional capital won't move on memes. It moves on infrastructure that speaks their language—settlement certainty, audit trails, regulatory sign-off.

That's how you build rails instead of chasing headlines.