Rahul is the Policy Director, APAC at Ripple. Rahul is responsible for leading Ripple’s engagement and advocacy with regulators and policymakers in the Asia Pacific region to support and develop regulation that promotes responsible innovation in digital assets and blockchain technology.
Prior to joining Ripple, Rahul spent over 12 years in financial services, most recently as the Head of Public Policy, Asia Pacific at the International Swaps and Derivatives Association, Inc. Prior to that, Rahul worked with Bloomberg L.P. in their offices in Mumbai, Singapore, and Hong Kong in multiple roles across valuations, business development, and sales for both exchange-traded and OTC derivative products.
Rahul is the Chair of the Blockchain Association of Singapore Stablecoin and CBDC Subcommittee.
Rahul holds a Master in Public Policy from the Lee Kuan Yew School of Public Policy in Singapore.
Roundtable Room 1, Sands Expo & Convention Centre, Level 4
Invite-Only
This roundtable is the fourth phase of an ongoing dialogue focused on crafting open and interoperable networks within the financial ecosystem.
Stablecoins, a rapidly growing subset of crypto assets, are gaining significant traction in the global financial system. Positioned as the bridge between traditional finance and the world of cryptocurrency, their stable value – achieved through pegging to fiat currencies – makes them pivotal in driving mainstream adoption of digital assets.
The global market capitalisation of stablecoins stood at approximately USD $172 billion as of September 2024.[1] The major stablecoin players collectively represent about 93% of this market,[2] highlighting the concentrated nature of this market. As stablecoins become increasingly embedded into the global financial infrastructure, there is a critical need for robust regulatory frameworks and best practices to ensure stability and mitigate potential distributions to the broader financial system.
In this roundtable, we bring together policymakers and industry participants to discuss:
- Best practices for issuers of fiat-backed stablecoins, focusing on transparency, consumer protection, reserve management and regulatory compliance.
- Key considerations for enterprise users of fiat-backed stablecoins, including tax considerations, custody, and technical implementation.
- Importance of establishing comprehensive regulatory frameworks to ensure stability, mitigate risks, and protect users from potential disruptions in the financial system.
- Encourage collaboration among stablecoin issuers, regulators, financial institutions, and users to create a cohesive ecosystem that supports sustainable growth in the stablecoin market.
[1] See https://www.coingecko.com/en/categories/stablecoins Coingecko.com Stablecoins by Market Capitalization
[2] Calculated from Coingecko.com data.
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