In this session, Marlene Amstad, Chair of FINMA and Chair of the IOSCO SupTech Forum, whose members oversee jurisdictions covering roughly 90% of global securities markets, shows how international cooperation on technology can transform financial supervision worldwide: detecting risks earlier, working more efficiently and strengthening trust across borders.

Tokenized deposits and conditional money take the programmability idea one layer deeper. They pilot whether settlement, eligibility and compliance can be embedded directly in the money rather than enforced around it. That raises a regulatory question few frameworks have caught up with: who is liable when the rule embedded in the transaction, not a human decision, turns out to be wrong. This discussion examines how the embedded-rules approach works in practice, and what it removes from the compliance function. It also looks at what new failure modes this introduces once the rule is baked into the transfer rather than checked afterwards. Attendees leave with a clearer view of where this model is genuinely ready, and where regulators are still working out how to hold it accountable. One key question the discussion will dive into: if compliance is embedded in the money itself, who is accountable when the embedded rule is wrong?

Expanding across fragmented regional markets forces digital finance startups into repetitive licensing cycles that multiply compliance costs and stall international scale. Recent agreements between Rwanda’s central bank and its counterparts in Ghana and Kenya to establish fintech licence passporting show that cross-border supervisory reciprocity is moving from principle to practice. A recent survey by TechCabal Research revealed that 62.5% of regional fintechs already operate internationally or plan to, with an identical proportion backing passporting frameworks. This session convenes financial regulators and founders to examine how central banks can align supervisory frameworks and establish mutual recognition standards without compromising financial stability or compliance oversight.