Second Conference on Stablecoins and Tokenization Second Conference on Stablecoins and Tokenization

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May 9, 2025
8:30 A.M. – 5:30 P.M. ET
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Virtual

 

On May 9, 2025, the Federal Reserve Bank of Boston and Federal Reserve Bank of New York will host a virtual "Conference on Stablecoins and Tokenization." The conference, which builds on an initial event held last year, will bring together researchers, regulators, and industry participants to discuss the potential impact of stablecoins and tokenization of cash-like products on the broader financial system, as well as implications for financial stability.

Audience

This conference is open to the public.

Media

This conference is open to media. All remarks are on the record. Media who wish to attend must register by contacting Mariah Measey at mariah.measey@ny.frb.org.

Conference Organizers:

Kenechukwu Anadu, Federal Reserve Bank of Boston
Marco Cipriani, Federal Reserve Bank of New York

Friday, May 9, 2025, from 8:30 a.m. to 5:30 p.m. EST.

Note: each talk is 45 minutes, with 15 minutes for questions; breaks are 15 minutes.

8:30 a.m. to 8:45 a.m.

Welcoming Remarks

Kartik Athreya (New York Fed)
8:45 a.m. to 9:30 a.m.

Stablecoins: Adoption and Fragility

Cristoph Bertsch (Sveriges Riksbank)
9:30a.m. to 9:45 a.m.

Break

9:45 a.m. to 10:30 a.m.

On the Programmability and Uniformity of Digital Currencies

Jonathan Chiu (Bank of Canada) and Cyril Monnet (University of Bern)
10:30 a.m. to 10:45 a.m.

Break

10:45 a.m. to 11:30 a.m.

Keynote Address

Monetary Innovation and Financial Architecture

Franklin Allen (Imperial College London (ICL)) and Ansgar Walther (ICL)
11:30 a.m. to 11:45 a.m.

Break

11:45 a.m. to 12:30 p.m.

Novel Activities, Familiar Risks? Potential Financial Stability Implications of New Money-Like Products

Kenechukwu Anadu (Boston Fed), Patrick McCabe (FR Board (FRBB)), JP Perez-Sangimino (FRBB), and Nathan Swem (FRBB)
12:30 p.m. to 1:30 p.m.

Lunch

1:30 p.m. to 2:15 p.m.

Strategic Money and Credit Ledgers

Markus Brunnermeier (Princeton) and Jonathan Payne (Princeton)
2:15 p.m. to 2:30 p.m.

Break

2:20 p.m. to 3:20 p.m.

Information and Market Power in DeFi Intermediation

Pablo Azar (New York Fed), Adrian Casillas (Massachusetts Institute of Technology (MIT)), and Maryam Farboodi (MIT)
3:15 p.m. to 3:30 p.m.

Break

3:30 p.m. to 4:15 p.m.

Optimal Design of Tokenized Markets

Michael Lee (New York Fed), Antoine Martin (Swiss National Bank), and Robert Townsend (MIT)
4:15 p.m. to 4:30 p.m.

Break

4:30 p.m. to 5:15 p.m.

Risk-based Capital for Stable Value Tokens

Gordon Liao (Circle), Dan Fishman (Circle), and Jeremy Fox-Green (Circle)
5:15 p.m. to 5:30 p.m.

Closing Remarks

Kenechukwu Anadu (Boston Fed)
 

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