The more money behaves like software, the more the decisive questions become legal and political rather than technical. Who is liable when a smart contract executes exactly as written and wrongly? How do sanctions and AML function when compliance is embedded in code rather than checked after the fact? What does systemic resilience mean when value moves at machine speed and a flawed rule can propagate across the system in a single run cycle? We will close the track with the question programmable money must answer to earn its licence: governance-by-design or not at all.

Cross-border tokenized corridors are moving from proof-of-concept to production. Hear from the people who made the crossing: what broke first - tech, legal or liquidity; what the operating model actually looks like when someone has to issue, settle and supervise; what they would never build again; and the honest timeline from pilot to scaled corridor. This discussion will be around the gating factors, the requirements, and what it really takes to move live value across borders on tokenised rails.

We are moving towards a multi-rail, multi-money world, where different forms of money and payment systems coexist. Interoperability matters, but so do the integrity and resilience of the financial system. How can policymakers advance these priorities together, and are there trade-offs to be made?

This session examines what it will take to build a trusted multi-rail financial system, and whether interoperability, inclusion, consumer protection and resilience can advance together — or whether some priorities must come first. With financial systems developing at different speeds across markets, the discussion asks where policymakers should focus their efforts today to deliver the greatest benefits for users and businesses.