Saul Goodman1

On January 24, 2026, at 16:06:56 UTC, Tezos successfully activated its 20th protocol upgrade, named Tallinn, at mainnet block #11,640,289. This upgrade follows the network’s established on-chain governance model, allowing protocol changes to be adopted without hard forks or chain splits. The proposal was developed collaboratively by Nomadic Labs, Trilitech, and Functori and approved through a vote by Tezos bakers.

Key Improvements

1. Reduced Block Time and Accelerated Finality

Layer 1 block time reduced from 8 seconds to 6 seconds
Transaction finality now achieved in approximately 12 seconds (2 blocks) instead of 16
Resulting in lower latency for applications and faster transaction confirmations
No additional hardware requirements for bakers

2. Enhanced Baker Attestations with BLS Signatures

Once 50% of bakers adopt tz4 addresses, all bakers will attest every block
Employs Boneh–Lynn–Shacham (BLS) aggregated signatures, consolidating multiple signatures into a single, efficient signature
Benefits include reduced data processing overhead, leaner consensus, and improved network security

3. Improved Storage Efficiency via Address Indexing

Introduces an Address Indexing Registry to compress on-chain storage of addresses
Replaces full addresses with short references, yielding up to 100× storage efficiency gains for certain Michelson-based applications
Particularly beneficial for NFT ledgers and large-scale smart contracts
Reduces disk space requirements for nodes

4. Layer 2 Impact and Tezos X Roadmap

Faster L1 blocks enhance the performance of Etherlink, Tezos’ EVM-compatible layer 2 network
Supports faster and more efficient settlement of layer 2 data on L1
Aligns with the Tezos X roadmap, which focuses on improved scalability, faster settlement, and lower operational costs for applications

Strategic Significance

The Tallinn upgrade demonstrates Tezos’ continued commitment to its self-amending, forkless protocol model, delivering meaningful improvements in performance, scalability, and governance efficiency. By combining faster block times, advanced signature aggregation, and optimized storage, Tallinn strengthens both base-layer infrastructure and layer 2 integration, reinforcing Tezos’ position as a high-performance, developer-friendly blockchain platform.
$XTZ $TAO
#Tezos #TallinnUpgrade #BlockchainGovernance #Layer2Scaling #CryptoInfrastructure

In January 2026, SWIFT successfully completed a pilot project to settle tokenised bonds in collaboration with Société Générale-FORGE, BNP Paribas Securities Services, and Intesa Sanpaolo. The pilot demonstrated settlement using both traditional fiat currency and a euro-denominated stablecoin, while preserving existing banking roles and SWIFT messaging standards.

The tokenised instruments represented conventional bonds recorded on a distributed ledger rather than in a central securities depository. By integrating blockchain-based tokens into its established infrastructure, SWIFT showed how tokenisation can be introduced without disrupting current market structures.

Delivery-versus-Payment and Bond Lifecycle Processing

The pilot covered the full delivery-versus-payment (DvP) process, ensuring that the transfer of securities and the corresponding cash payment occurred in a single, coordinated step. In addition to primary settlement, the participating banks processed coupon payments through the same framework and completed bond redemption at maturity, at which point investors received the principal and the tokenised bond positions were closed.

BNP Paribas Securities Services and Intesa Sanpaolo acted as paying agents and custodians, managing cash flows and safekeeping responsibilities for the tokenised instruments throughout the bond lifecycle.

Use of EUR CoinVertible and MiCA Compliance

Settlement during the pilot included the use of EUR CoinVertible (EURCV), a euro-denominated stablecoin issued by Société Générale-FORGE. Stablecoins are digital tokens designed to maintain a stable value by referencing an underlying asset, in this case the euro.

According to Société Générale-FORGE, EURCV has been compliant with the European Union’s Markets in Crypto-Assets (MiCA) stablecoin framework since 1 July 2024. This regulatory status positions EURCV as a suitable settlement asset for blockchain-based capital markets experiments conducted under European law.

Thomas Dugauquier, Tokenised Assets Product Lead at SWIFT, commented on 15 January 2026:

“This milestone demonstrates how collaboration and interoperability will shape the future of capital markets. By proving that SWIFT can orchestrate multi-platform tokenised asset transactions, we are paving the way for our members to adopt digital assets with confidence and at scale.”

Alignment with SWIFT’s Shared Ledger Strategy

The tokenised bond pilot aligns with SWIFT’s broader roadmap announced in September 2025, which includes plans to introduce a blockchain-based shared ledger as part of its infrastructure. That initiative involves more than thirty financial institutions and incorporates technology from Consensys.

In this context, the pilot showcased how SWIFT messages can coordinate activity across multiple platforms, linking the existing global banking network with on-chain records for securities and settlement tokens.

Jean-Marc Stenger, CEO of Société Générale-FORGE, stated on 15 January 2026:

“The partnership promotes the adoption of efficient, rapid, and secure payment solutions for financial institutions and corporations leveraging distributed ledger technology, with EUR CoinVertible serving as a benchmark stablecoin.”

Market Context

Société Générale-FORGE issued its first on-chain digital bond in the United States in November 2025 using a permissioned blockchain, providing early operational experience with digital bond issuance. By early 2026, multiple European institutions had conducted trials involving tokenised bonds and regulated stablecoins.

The SWIFT pilot builds on these developments, demonstrating how large financial institutions can settle tokenised instruments while retaining existing back-office systems and operational frameworks.
$SOL $USDC $WLFI
#TokenizedAssets #DigitalBonds #BlockchainInFinance #Stablecoins #CapitalMarketsInnovation

Event

📅 1 Feb 2026: Ripple unlocks 1B XRP from escrow
🔁 Part of the fixed monthly schedule (same as Jan 1, 2026)

How Escrow Really Works
🔒 55B XRP locked in 2017
⏱️ 1B XRP unlocks every month

🔁 Historically 60–80% gets re-locked
💧 Only ~200–300M XRP typically stays in circulation monthly➡️ The net supply increase is what actually impacts price
📉 Price & Technical Snapshot (Mid-Jan 2026)

💵 Price: ~$1.98 (-4% daily)
📊 50-day SMA: ~$2.00 📉 200-day SMA: ~$2.60 (bearish structure, short below long) 🔄 RSI (14D): ~45 → neutral, no extremes

Market Focus

👀 Traders are watching how much XRP gets re-locked🔥 Less re-locking = more short-term sell pressure🧊 Heavy re-locking = unlock likely gets absorbed quietly

🏛️ Regulatory & Institutional Context (Big Change)
⚖️ SEC case ended Aug 2025 → $125M settlement
📈 Spot XRP ETFs launched in the US
💰 One issuer reported hundreds of millions in inflows (Dec 2025)

➡️ Unlocks now happen in a market where institutions actively monitor escrow flows + ETF demand

🧠 Trader Takeaway
🟡 The unlock itself is not new news
🔑 Re-lock percentage is the real catalyst
📊 With ETFs in play, supply shocks matter more than before
⚠️ Expect volatility around Feb 1, especially if re-locking is lighter than usual
$XRP
#xrp #Ripple #CryptoNews #XRPUnlock #Altcoins