Closing the Coordination Gap: Standards, Frameworks and the Missing Architecture for Tokenized Finance

Countries considering implementation of cross-border tokenised finance are faced with a coordination problem. Interlocking policy choices such as which forms of tokenised money require prior regulatory decisions, what international conditions need to hold before domestic frameworks are actionable, and how stablecoins, tokenised deposits, and non-monetary assets each present different risk profiles for host-country regulators. Without a model for how the public and private sector can move together, countries risk either waiting indefinitely or acting before the conditions for safe implementation are in place.

This session surfaces the critical unanswered questions and examines what sequencing and what coordination between public institutions and private infrastructure providers could actually look like in practice, addressing:

• What the evidence base demonstrates about cross-border tokenised settlement, where bilateral solutions have reached their limits, and what conditions multilateral standards development would require.
• What regulators in various markets need for implementation in terms of legal clarity, technical prerequisites, and international coordination guarantees before tokenized finance frameworks are actionable at the country level.
• The gaps in public-private coordination and what a viable coordination mechanism between the two would need to look like.