The proliferation of digital currency instruments underway could form the basis of next generation financial market infrastructure and decisions made in these projects are growing increasingly consequential. Central banks, commercial banks, payments companies, and technology firms share a commitment to innovation and improvement in building and operating these instruments. CBDCs, reserve backed tokens, tokenized deposits, stablecoins, and tokenized assets could be transformative if they are designed with attributes that support automation, efficiency, and interoperability. However, it is not clear how these new forms of programable money and assets fit together in an integrated financial system yielding improvements over today s infrastructure. There is a risk that these initiatives evolve in ways that fragment markets, fracture and freeze liquidity in different systems, and complicate finality of settlement. International institutions, such as the IMF and Bank for International Settlements, have recognized these challenges and have put forward views of how to work toward a global and unified next generation digital financial infrastructure. This roundtable brought together leading institutions from the financial, technology, and public sectors to discuss critical elements of these instruments and infrastructure for alignment. Participants highlighted pathways forward to deliver the promises of innovation and improvement from tokenization and ledger technology.
Highlighted Topics:
+ Enhancing market efficiency clearing, settlement, and record keeping
+ Future roles and responsibilities for different ecosystem participants
+ System design, security, and governance decisions open source, permissioned vs permissionless, distributed architecture
+ Opportunities for digital currency instrument deployment tokenized assets, Atomic settlement in payments, FX solutions, and project financing
Please note, this event was held under the Chatham House Rule. If you have any questions, please contact Hannah Anderson ([email protected]).