Not every country can build global-scale financial infrastructure alone. Across the world, groups of countries are pooling resources, coordinating oversight, and interlinking systems regionally, choosing collective action over waiting for a single global standard or going it alone.

This panel brings together three different models of that regional playbook. The discussion works through what it takes to build financial cooperation at the bloc level: how these regional mechanisms actually got built, what kept smaller or newer members willing to join in, and where this collective model succeeds — or strains — compared to a single institution building alone. Attendees leave with a practical view of when banding together beats going it alone, and what it costs to make that work.

Tokenization is moving real-world assets such as treasuries, funds and credit onto new digital rails. The technology is advancing quickly. The harder question is whether the legal and regulatory framework can keep pace. When an asset becomes a token, does it retain the same rights and protections? Who owns the underlying asset? Which jurisdiction's rules apply when the token crosses a border? And what happens when different markets take different approaches? This conversation brings regulators and market participants together to examine where the rules are clear, where they diverge, and what still needs to be resolved for tokenized assets to scale.

National instant payment schemes are proliferating around the world, yet most remain valuable only within their own borders. As domestic networks mature, the next source of value lies not in individual schemes, but in the bridges that connect them.

This session explores the emerging cross-border interoperability layer: who is building it, how common messaging standards and technical frameworks make it possible, and how governance, costs, revenues, and risks are shared among the parties involved. The discussion will examine the different models being adopted globally, from bilateral connections to multilateral networks and shared infrastructure platforms.

Participants will leave with a clearer understanding of where payment interoperability is succeeding in practice, what challenges remain, and the trade-offs between different connectivity approaches.

One of the central questions the panel will explore is: when one country's instant payment scheme needs to communicate with another's, who builds the bridge, and who owns the toll?