Stablecoins, tokenized deposits and tokenized MMFs are all racing to become the default form of institutional money, though none of them do the same job equally well. Three advocates, one per instrument get two minutes each to pitch to our moderator, who presses each on the trade-offs. Then the audience votes: what would you actually hold for payroll, for treasury, for cross-border? Come find out what counts as money when the answer depends on the job.

As TradFi moves on-chain, can ownership of regulated digital assets remain anonymous? Programmed Governance offers a new model where trusted identity, asset eligibility and policy rules are checked and validated before value moves. As money becomes programmable, this session explores the next frontier: rewiring policy for an era of programmable value.

Incentives are misaligned in global banking. Large banks run networks that cannot serve today's FI volume at a viable cost, so mid-market firms turn to challenger banks that fund lending with client float. Clearing, custody and liquidity are fiduciary and belong in a 100% reserve model. Attendees leave knowing where operational money should sit.