Agenda
Mon 16 Nov9:30–11:00amPublic-Private Roundtable
Tokenization in Finance: A Year of Evidence and a Path Forward
Tokenized Market Infrastructure – The Scaling Challenge
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About This Session
Tokenization projects today are built vertical by vertical, each solving its own problem in its own silo. But tokenizing an asset on its own doesn't unlock what tokenization is actually for with the real benefit, from atomic settlement to capital efficiency, only being realised once the whole chain is interoperable end to end, not just the asset sitting on it. If the end state is a genuinely tokenized financial system, the question for any country or institution becomes how to build toward it without locking in the fragmentation a siloed approach creates. Tokenization in Finance: Evidence and Implementation Pathways starts from the premise that avoids tokenizing in a bubble and offers a playbook that lets a country begin from its own ambition, mapping not just what it takes to tokenize an asset, but the full chain needed to trade it efficiently and interoperably with everything else.
This roundtable shares what a year of open-call research has surfaced with a decision-making framework for countries looking to embark on their tokenization initiatives, problem statements from practitioners weighing key options and risks and worked examples showing the framework applied in practice. Participants will also look ahead to 2027, exploring the next wave of problem statements and identifying the coordination, partnerships and policy support needed to move from evidence to adoption across institutions and jurisdictions.
- When
- Monday 16 November9:30–11:00am, Singapore time
- Where
- Public-Private RoundtableRoundtable Room 1
- Access
- Open
Speakers
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Herman Schueller
Director, Innovation & Technology Risk - Supervision
Dubai Financial Services Authority
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Jaime Pradenas
Head of Financial Technology Hub
Central Bank of Chile
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Kushal Balluck
Senior Manager, FMI Innovation & Payments Policy
Bank of England
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Peter Kerstens
Advisor, DG FISMA
European Commission
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Alan Crofts
Head of Innovation & Fintech
FMA New Zealand
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Jael Tan
Head of Government Programmes
Global Finance & Technology Network (GFTN)
Moderator -
Maha El Dimachki
Chief Executive Officer, GFTN Solutions
Global Finance & Technology Network (GFTN)
Moderator
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Audrey MetzgerDirector of Innovation & Financial Market InfrastructuresBanque de France
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Holger NeuhausHead of Market Innovation & Integration, Design Manager for TokenisationEuropean Central Bank
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John O'NeillManaging Director, Digital Assets & Currencies, CIBHSBC
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This roundtable convenes the GL1 community to share experiences from adopting and applying these toolkits, including practical implementation lessons and considerations for broader adoption. Participants will also look ahead to how this work can be extended to support new use cases and capabilities as the industry progresses towards a programmable financial system.
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Aaron SeabrookChief Operating OfficerMarketnode
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Andrea DoreGlobal Head of Treasury OperationsWorld Bank Group
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Audrey MetzgerDirector of Innovation & Financial Market InfrastructuresBanque de France
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David KatzVice President for Strategy & Public Policy, Asia PacificCircle
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Fernando VázquezPresident, Capital MarketsChainlink
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Gabriel CallsenSenior Director, FinTech and DigitalisationInternational Capital Market Association (ICMA)
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Selene ChongGlobal Head of Digital Assets, CIBHSBC
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Prof. Tālis PutniņšCo-Chief Executive Officer & Chief ScientistDFCRC
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Tim WaySenior Director, Global BankingFireblocks
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About this session
Tokenized bond and fund issuance is growing quickly, but secondary-market liquidity hasn't kept pace — largely because issuance still sits on separate, platform-specific systems that don't connect to each other.
Interoperability standards exist, but adoption remains voluntary, and what should carry the cash leg (stablecoins, tokenized deposits, or central bank money) is still unresolved. This session brings together issuance platforms, interoperability infrastructure, and standard-setters to discuss what it would take to converge on shared rails, so liquidity can catch up to issuance. -
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4:00–5:30pmMon 16 NovPublic-Private RoundtableRoundtable Room 3Open
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