Emma Joyce

Traditional AML/CFT frameworks for cross-border payments were built around correspondent banking, a model that relies on centralised oversight and intermediary controls. However, the rise of payment tokens on blockchain introduces greater transparency, real-time traceability, and enhanced enforcement capabilities—enabling regulators and financial institutions to detect, monitor, and act on illicit activity more efficiently than ever before. 

As the global financial system undergoes a paradigm shift toward tokenized payments, it is crucial to re-examine payment control mechanisms in this new landscape. This roundtable will convene leading regulators, financial institutions, and blockchain experts to explore: 

1.  How blockchain-based payment tokens enhance monitoring, detection, and enforcement – Are decentralized networks more transparent than traditional banking rails? What are the limitations? 
2. Redesigning payment controls for a tokenized world – Should AML/CFT rules evolve to account for programmability, smart contracts, and decentralised compliance models? 
3. Moving forward: Bridging regulatory principles with tokenized payments – How can policymakers, financial institutions, and blockchain innovators collaborate to ensure payment security without compromising efficiency? 

Institutional players are increasingly adopting digital assets, including private sector stablecoins, central bank digital currencies (CBDCs), tokenized real-world assets, and tokenized deposits, as part of their financial infrastructure. With 2025 poised to be the breakout year for digital money, this session brings together financial institutions, regulators, and leaders in the digital assets space to discuss:

• The emerging use-cases and commercial opportunities for on-chain assets, such as improved cross-border transactions and programmable money applications
• The risks institutions will have to navigate when managing their digital money assets, including financial volatility, cyber risks, and compliance concerns
• Integrated approaches to managing assets across the traditional finance and decentralised finance landscape