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. The major stablecoin players collectively represent about 93% of this market, 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.

In this panel, industry experts will explore how programmable compliance is reshaping the regulatory landscape. From automating complex processes to embedding rules directly into financial transactions, programmable compliance offers banks and financial institutions the ability to ensure adherence to evolving regulations in real-time, while driving efficiency and reducing risks.