Michael Manz is head of the Financial System & Financial Markets division at the Swiss State Secretariat of International Finance (SIF). The responsibilities of his division include supporting and consulting the Swiss Federal Department of Finance and the Swiss government and preparing laws and ordinances in the field of financial market regulation, financial stability, financial innovation, combating money laundering and terrorism financing, and international monetary assistance. He represents Switzerland in various international workstreams and supports the membership of the Swiss Ministry of Finance in the International Monetary Fund, the Financial Stability Board and the Financial Action Task Force.
Roundtable Room 1, Ground Floor
Premium
The global monetary system has a plumbing problem. Correspondent banking is slow, expensive, and exclusive, and now a $300 billion stablecoin market has grown around it. Yet 97% of that market is dollar-denominated, issuers hold hundreds of billions in short-term Treasuries, already impacting yields, and the largest stablecoin carries rating agencies’ lowest stability ratings.
Stablecoins could become genuinely useful payments infrastructure: for cross-border payments, programmable settlement, and treasury operations. In this roundtable we explore what it takes to make stablecoins truly stable and useful for broad adoption, and why Switzerland is well-placed to help (re-)define what responsible stablecoin design looks like.