Recognition
Stellar Community Fund recognition.
Recipient of Stellar Community Fund support for designing and architecting an AI-powered, non-custodial, stablecoin-based payment system for cross-border settlements for SMBs and NGOs.
A Paris-based advisory boutique for stablecoins, financial infrastructure, and AI in regulated finance.
tracee advises banks, financial institutions, multilateral funds, and digital asset platforms on product strategy, architecture, and implementation, with a focus on payments, settlement, tokenization, and applied AI.
Awards and recognition.
Award
Circle Impact Award.
Winner of the Circle Impact Award for architecting a bulk-payment system that delivers funds to refugees and enables secure collection through SMS codes and MoneyGram access.
Circle Alliance Program
tracee is a Certified Member of the Circle Alliance Program, Circle's curated partner network for institutional builders deploying USDC and EURC payment, treasury, and settlement infrastructure.
View tracee on the Circle partner directoryPatent
AI patent application, in advanced review.
Patent application in advanced review, covering a multi-agent AI architecture for digital-payment platforms. Designed to automate transaction flows, enhance security, and deliver contextual, intelligent payment execution.
Trusted by teams across fintech and payments
What we work on.
Four practice areas where we hold the deepest tools and the longest mileage. Each engagement draws on whichever combination the decision requires.
Product strategy.
Translate regulatory posture into a product brief, a target architecture, and a roadmap engineering and risk can ship.
- Define the product brief, scope, and target architecture.
- Map institutional and operational user journeys.
- Translate regulatory posture into product constraints.
- Compliance scoping: KYC, AML, CFT, Travel Rule, GDPR.
- Deliver executable roadmaps for engineering and risk.
Stablecoin advisory.
Issue or integrate, your MiCA role, corridors, custody, reserves and the books. Decided first, then designed against MiCA, NYDFS, and MAS.
- Decide whether to issue an EMT, integrate EURC or USDC, or partner.
- Map your MiCA role, its supervisor, and the DORA and Travel Rule duties.
- Design corridors to Africa and the Middle East, down to mobile money.
- Select custody, chains, and vendors, with the reasons written down.
- Design reserves, redemption, liquidity, and the link to your ERP.
Tokenized products.
Tokenized deposits, money-market funds, and real-world assets, engineered for institutional issuance and distribution.
- Tokenized deposits, money market funds, short-dated debt.
- Real-world asset frameworks for institutional issuers.
- Subscription, redemption, and corporate-action mechanics.
- Distribution architecture across regulated venues.
- Secondary-market design and tokenholder reporting.
Agentic AI workflows.
Treasury, KYC, and exposure workflows shipped from pilot to production with the guardrails regulators expect.
- Identify deploy-ready use cases across finance functions.
- Design human-in-the-loop oversight for agentic systems.
- Treasury reconciliation, KYC review, exposure monitoring.
- Define guardrails, escalation paths, and audit trails.
- Stage rollouts from pilot to production safely.
How an engagement runs.
01
Discovery call.
Thirty minutes, no charge.
02
Scoping document.
Within one week of the call.
03
Engagement proposal.
Scope, deliverables, and timeline, defined up front.
04
Weekly working sessions.
With your decision-makers in the room.
05
Decision-grade deliverables.
Documents your board can act on.
Stablecoin product and strategy consulting
Stablecoins, decided before they are built.
tracee is an independent consulting firm in Paris for banks, payment companies, fintechs and corporate treasuries weighing stablecoins. We settle the questions that come before any build: whether to issue or integrate, which MiCA role that makes you, how a corridor pays out at the far end, who holds the keys, and how the token reaches your books.
01
Issue or integrate.
Most firms should integrate an existing regulated token such as EURC or USDC. Issuing an EMT takes a bank or e-money licence, a reserve and a network that will hold the token. We compare both routes on licence, cost, time and control.
02
Corridors, last mile first.
Europe to Africa and the Middle East, paid out to bank accounts, to mobile money such as M-Pesa, MTN MoMo or Orange Money, or to cash pickup. The off-ramp partner, the prefunding and the exceptions are designed up front.
03
Keys, approvals, books.
Custody designed as a control: who signs, with MPC, HSM or multisig, and which provider fits. Then every transfer reconciled to your ERP and treasury system, such as SAP, Oracle or Kyriba.
What we map
- MiCA EMT and CASP
- ACPR and AMF
- DORA
- Travel Rule
- SEPA Instant and SWIFT
- MPC and HSM custody
- SAP, Oracle, Kyriba
- FX and liquidity
Recent reading
Latest briefings.
Six stablecoin decisions to make before you build [special edition]
From: tracee advisory practice, special edition, 23 October 2026.
Issue or integrate, your MiCA role, the corridor, the rail, custody and the books: the six decisions that shape a stablecoin programme, in the order to take them, with the comparison tables we use.
Read briefing
Solana ships a settlement standard: J.P. Morgan shaped the requirements, but one settlement authority still decides when both legs release.
From: Solana Foundation, 6 October 2026.
Solana DvP is an MIT-licensed, audited escrow that releases a securities leg and a cash leg in one transaction. J.P. Morgan advised on requirements, but a single settlement authority still triggers release and privacy features are not yet shipped.
Read briefing
Fiserv puts a bank stablecoin into production: North Dakota's Roughrider Coin turns a core-banking login into a Solana settlement rail.
From: Fiserv, 1 October 2026.
Fiserv's platform is live with Roughrider Coin, a permissioned Solana token for 90+ North Dakota banks. No volume, supply or reserve figure is published.
Read briefing
Circle Foundation funds a stablecoin desk inside the UN: UNDP and WFP get money to build the plumbing, not to run a new pilot.
From: Circle Foundation, 25 September 2026.
Neither grant buys a live payment. Both fund the governance and reconciliation systems behind pilots that were already running on Stellar.
Read briefing
The Clearing House picks its pipes: Quant becomes the wiring for a bank network moving $2 trillion a day, and no one has named the ledger it runs on.
From: The Clearing House / Quant, 24 September 2026.
Quant was named vendor for the tokenized deposit network 25 US banks are building, closing the watchpoint tracee flagged in June. No blockchain has been named yet.
Read briefing
The Fed finally opens its own stablecoin rulebook: OCC and FDIC published their reserve rules months ago, and none of the three is final.
From: Federal Reserve Board, 24 September 2026.
The Fed proposed GENIUS Act reserve, capital and application rules seven months after the OCC and five after the FDIC. None of the three is final yet.
Read briefingLong-form analysis
Latest reports.
Stablecoin architecture for regulated issuers.
The design choices facing institutions preparing to issue or back a regulated stablecoin in 2026, across MiCA, NYDFS, and MAS regimes.
Preview the reportA board-ready assessment framework for the tokenized economy.
The methodology tracee uses to scope an architecture review. Capability map, decision matrix, and five evaluation axes.
Request the reportMulti-rail payments for emerging market disbursement.
An anonymized read of a disbursement program spanning six Central African countries. Rail selection, treasury operations, FX exposure.
Request the reportFrequently asked
Common questions about tracee
What does tracee do?
tracee advises banks, multilateral funds, and digital asset platforms on the design and deployment of the tokenized economy, compliant stablecoins, payment and settlement rails, and agentic financial workflows.
Where is tracee based?
tracee is based in Paris, France, and operates as Tracee SAS, a registered French company. Engagements are delivered globally.
Who founded tracee?
tracee was founded by Bassel Assaad, an engineer and inventor with 12 patents across six jurisdictions and a PhD in IT and systems from Sorbonne University. He is a UN advisor, and a senior expert in digital assets and AI in finance.
What kind of consulting does tracee offer?
tracee offers four engagement formats. Milestone-based mandates deliver strategic architecture and execution oversight on a fixed-scope basis. Embedded engagement places senior expertise inside the team on a daily-rate, continuing basis. Advisory provides an independent read on trajectory through recurring weekly, biweekly or monthly sessions with written debriefs. Executive workshop is a private session scoped to the work.
What topics does tracee specialise in?
Four practice areas: stablecoin advisory (issue or integrate, MiCA roles, corridors and payouts, custody, reserves, settlement, ERP integration), tokenized products (deposits, money market funds, real-world assets), agentic AI workflows (treasury reconciliation, KYC review, exposure monitoring), and product strategy (KYC, AML, CFT, Travel Rule, GDPR compliance, executable roadmaps for engineering and risk).
Who are tracee's clients?
tracee advises banks, multilateral funds, digital asset platforms, and fintech CFOs. Current mandates include a UN multilateral climate fund (digital payment and AI infrastructure across six Central African countries) and a digital asset platform with a South African footprint.
How do I work with tracee?
The first step is a 30-minute discovery call, free and without obligation. Book a call or email hello@traceeapp.com.
Does tracee publish research?
Yes. tracee publishes long-form reports on the architecture of the tokenized economy. Recent publications include Stablecoin architecture for regulated issuers, A board-ready assessment framework for the tokenized economy, and Multi-rail payments for emerging market disbursement. Browse reports.
Start with a conversation.
Thirty minutes, no slide deck, no obligation. We listen, we assess fit, and we tell you whether we can help.