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Gabriel Callsen
Senior Director, FinTech & Digitalisation
International Capital Market Association (ICMA)
Gabriel Callsen is a Senior Director, FinTech and Digitalisation, at the International Capital Market Association (ICMA). He is responsible for ICMA’s Bond Data Taxonomy (BDT) and Common Domain Model (CDM) for repo and bonds, two key initiatives to foster automation and interoperability in the international debt capital markets. He is secretary to ICMA’s FinTech Advisory Committee and DLT Bonds Working Group. He also represents ICMA at various international forums, including the Eurosystem’s New Technologies for Wholesale Settlement Contact Group (NTW-CG), the UK’s Industry Data Standards Committee (IDSC) and the MAS Project Guardian initiative. Gabriel has published various papers on FinTech, DLT, Big Data, AI, regulation and capital markets, and speaks regularly at industry conferences and educational events. Prior to joining ICMA, Gabriel worked for the European Commission and Tradeweb.
Speaking At
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3:30–5:00pmMon 16 NovPublic-Private RoundtableRoundtable Room 1Open
The Scaling Challenge in Tokenized Markets
Connecting Tokenized Capital Markets
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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 & DigitalisationInternational Capital Market Association (ICMA)
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Magnus HaglindSenior Vice President & Head of Capital Markets TechnologyNasdaq
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Martin K. MüllerChairman of the Supervisory BoardRegulated Layer One
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Samuel RileyChief Executive OfficerClearstream Securities Services, Clearstream Holding AG
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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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Sandra RoChief Executive OfficerGlobal Blockchain Business Council (GBBC)Moderator
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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11:15am–12:45pmTue 17 NovPublic-Private RoundtableRoundtable Room 3Open
The Scaling Challenge in Tokenized Markets
Beyond Issuance: Putting Tokenization to Work
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Allison ParentChief Policy OfficerOndo Finance
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Audrey MetzgerDirector of Innovation & Financial Market InfrastructuresBanque de France
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Chetan KarkhanisSVP Digital Asset Client EngagementFranklin Templeton
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Gabriel CallsenSenior Director, FinTech & DigitalisationInternational Capital Market Association (ICMA)
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John HoHead, Legal, Financial MarketsStandard Chartered Bank
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Katsuya TeraiDeputy Director, Crypto-Assets & Stablecoin DivisionFinancial Services Agency of Japan (JFSA)
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Peter HilborneChief Operating Officer, Global Operating PlatformSchroders Investment Management
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Scott O'MaliaChief Executive OfficerInternational Swaps & Derivatives Association, Inc.
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Alan LimDirector & Head, Financial Infrastructure & Artificial Intelligence OfficeMonetary Authority of SingaporeModerator
About this session
The first wave of asset tokenization proved that funds, bonds and other assets can be represented digitally and transacted on-chain. Yet despite a growing number of tokenized products, adoption remains fragmented and concentrated in isolated use cases. The next challenge is not creating more tokenized assets, but making them useful. How can tokenized assets be mobilised as collateral, deployed in funding markets, transferred seamlessly across institutions, and integrated into liquidity and treasury operations?
Building on Guardian's work in tokenized collateral and tokenized funds, this roundtable explores how tokenized assets can evolve from investment products into operational instruments that support financing, margining, collateral management and liquidity optimisation. Participants will discuss the legal, regulatory and infrastructure enablers needed to unlock collateral mobility, the role of tokenized money market funds and sovereign debt instruments, and whether a more connected ecosystem can create the scale necessary for institutional adoption.
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