Deloitte warns of dangerous “blind spot” in tokenized settlement that will make market manipulation nearly impossible to stop

Deloitte's 2026 outlook highlights the potential risks and opportunities of T+0 settlement – settling trades the same day – particularly as it relates to tokenized securities and stablecoins. While T+0 promises faster asset movement and clearer records, it also compresses the time available to detect errors and manipulation. The report emphasizes that successful implementation hinges on pilot programs that prioritize transparency and auditability, rather than solely focusing on speed.

The key concern is that reduced reporting burdens, intended to streamline processes, could inadvertently increase opacity, creating a “blind spot” where market manipulation could go unnoticed. Deloitte suggests that increased focus on compliance, surveillance, and cybersecurity is crucial to mitigate these risks. The firm believes early traction for tokenization will likely be in collateral workflows due to the intraday nature of these commitments.

Ultimately, T+0 serves as a stress test for market infrastructure, determining whether tokenization will become a scalable, integral part of the financial system or remain a limited experiment. The outcome depends on whether pilots demonstrate improved settlement and collateral workflows *without* sacrificing transparency, and whether regulators can effectively oversee the evolving landscape.

(Source：Plato Data Intelligence)