Currently, several new forms of digital money are invented through tokenization. Banks are exploring tokenized deposits, or Commercial Bank Money Tokens (CBMT), as a way to modernise their offerings. However, much of this innovation is happening outside their direct control, often spearheaded by fintech players and driven by clients demanding solutions like stablecoins for cross-border payments. Additionally, central banks and regulators are beginning to enforce support for digital currencies such as retail Central Bank Digital Currencies (CBDCs), as seen with MAS on the pilot use of wholesale CBDCs in Singapore and the European Central Bank’s initiatives in Europe.
These tokenized forms of money, especially those running on blockchain, operate fundamentally differently from traditional currencies. As a result, banks and other financial institutions must modernise their systems to ensure they can manage and transact with tokenized money effectively. This transformation will impact IT infrastructure, core processes, and even strategic operations.
In this roundtable, we will explore the key considerations FI players need to address as they prepare for this shift, including technical, regulatory systems, and operational challenges.
Insights Forum
Roundtable Room 1, Sands Expo & Convention Centre, Level 4
