Our research, insights, & thought leadership.

New research commissioned by Ledn and conducted by Protocol Theory shows that crypto-backed lending has a demand problem hiding in plain sight: crypto holders are open to borrowing, but providers must first earn the confidence needed to convert interest into adoption.

At Consensus Miami 2026, Alistair Rennie challenged the idea that faster and cheaper payments alone will drive stablecoin adoption. Watch his keynote on the role of programmable utility, real-world use cases, and demand-side innovation.

Our latest research with Tangem has been featured in The Block, highlighting a broader shift in how self-custody is being understood, adopted, and used across the crypto ecosystem.

Drawing on new Protocol Theory research across Australia, the UK, and the US, Alistair Rennie argues that stablecoins’ “iPhone moment” will come when programmable money moves beyond infrastructure and solves real consumer problems through safer, smarter, and more useful financial experiences.

Crypto users believe in self-custody, but many still do not see it as relevant to how they use crypto today. Drawing on Protocol Theory’s latest research with Tangem, this piece explores why operators need to move beyond secure storage and position self-custody as a practical layer for everyday participation.

Protocol Theory will return to Consensus 2026 for the third consecutive year, joining global leaders across digital assets, finance, and emerging technology in one of the industry’s most important gatherings. This year marks a significant milestone for the firm, with Alistair Rennie taking the stage to deliver a keynote on the evolution of stablecoins and their growing commercial role.