In the age of AI, stock trading is still writing cheques.
That changed this week.

On March 9, 2026, Nasdaq partnered with crypto exchange Kraken
to build the Equities Transformation Gateway — tokenized
equities trading 24/7, settling in seconds, instant, fractional,
and always on. Four days earlier, NYSE's parent Intercontinental
Exchange invested in OKX at a $25 billion valuation with the
same intent.

Two of the most powerful financial exchanges on earth. Same week.
Same bet. That is not a trend. That is a verdict.

In this episode, Aman breaks down:

→ Why the stock market is the last analogue institution in a
digital world
→ Why the ASX's $250M blockchain project failed in 2022 — and
why Nasdaq's approach won't repeat it
→ How this is structurally different from Robinhood fractional
shares
→ Why Kraken's Federal Reserve master account changes everything
→ Stablecoins, the GENIUS Act, and the hidden infrastructure
layer beneath it all
→ Three things to watch before mid-2027 — and why financial
journalists are missing the bigger story

This is a solo episode. Co-host Zubin Vandrevala is in New
Zealand. He couldn't wait.

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📖 COMPANION BLOG
A Man Who Blogs #32 — Chains, Clocks & Capital
[SUBSTACK URL]

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Click here to watch a video of this episode.

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Creators & Guests

• Aman Narain - Host