Raja Chakravorti

Stellar has seen 80% growth in tokenized treasuries, exceeding $7.4B on-chain. Franklin Templeton is a major partner using the network for its fund. Institutional grade uptime (4-5 nines) and specific focus on asset issuance make Stellar a quiet winner in the RWA (Real World Asset) race, specifically for "vanilla" assets like Treasuries that require strict compliance. LONG XLM as a pure-play bet on institutional treasury tokenization. Competition from Ethereum L2s or private bank chains.

Raja highlights Franklin Templeton as a "great example of a partner" that has successfully built and scaled on the Stellar network with "almost a billion dollars worth of tokenized treasuries." Franklin Templeton (BEN) has first-mover advantage in the tokenized treasury space. With the sector expected to grow from $7.4 billion to $20 billion+ in the next year, BEN is positioned to capture significant inflows as the dominant incumbent in this specific niche. Long BEN as the leader in traditional asset management successfully transitioning products on-chain. Traditional finance competitors launching rival tokenized funds or regulatory hurdles for on-chain securities.

Foreign investor GQG is betting $24 billion on India, specifically targeting banking, infrastructure, and telecom, while avoiding IT. These sectors are "domestically oriented" and insulated from the global AI disruption narrative affecting IT exports. They benefit from India's internal economic recovery and earnings growth. LONG India's domestic cyclical economy. Global risk-off sentiment dragging down all emerging market equities.