Episode description

In this episode of the Applied Blockchain Podcast, Adi Ben-Ari speaks with Andrew O’Neill, Head of Digital Assets and Blockchain Analytics at S&P Global Ratings, about the evolution of financial infrastructure through tokenisation, stablecoins, and decentralised finance.

Andrew shares insights from over 15 years in the financial sector, covering how traditional risk frameworks are being reshaped to accommodate real-time blockchain data, smart contracts, and on-chain portfolios. He explains how legacy institutions are engaging with Web3, and why transparency, resilience, and education are critical for widespread adoption.

They discuss:

• Tokenisation of money market funds and treasury assets
• Stablecoins: reserve structures, transparency & risk profiles
• Decentralised finance (DeFi) and its parallels with structured finance
• On-chain vs off-chain risks: what still needs bridging
• How blockchain enables real-time financial monitoring
• Use cases in DAO treasuries, corporate finance & asset management
• Bitcoin’s evolving role in global markets

Resources Mentioned

• Bitcoin White Paper: bitcoin.org/bitcoin.pdf
• Smart Money*by Brunello Rosa
• MakerDAO’s RWA investments
• Project Guardian by JPMorgan & Apollo
• ArbitrumDAO Treasury Proposals
• S&P Global Ratings: spglobal.com