The development of tokenized settlement assets plays a key role in enhancing liquidity and improving settlement efficiency in financial services. Yet the diversity of settlement assets – regulated stablecoins, tokenized deposits, tokenized central bank reserves – could introduce fragmentation and substitution risk if token interoperability, yield and incentive mechanisms, and financial stability considerations are not well addressed.
 
This roundtable brings together the financial industry and policymakers to address the multi-faceted considerations for tokenized settlement assets, ensuring they are fit-for-purpose across banking, capital markets, and wholesale payments.

Institutional finance is no longer watching stablecoins and DeFi from the sidelines - a growing cohort of banks and asset managers are deploying capital into permissioned on-chain liquidity pools, tokenised collateral markets, and stablecoin-settled instruments. This session explores how institutions are building the frameworks, partnerships, and guardrails to participate in on-chain markets at scale - and what it will take to bring the rest of the industry with them.

The promise of blockchain settlement has always been atomicity - simultaneous exchange of asset and payment, with finality in seconds rather than days. Live pilots from major exchanges, custodians, and correspondent banks are proving the technology works; the harder challenge is rebuilding the legal frameworks, operational workflows, and legacy infrastructure that surround it. This session examines what it genuinely takes to move from today's T+1 standard to a world where settlement is instantaneous, global, and always on.