Digital money is now a balance-sheet decision. With the GENIUS Act framework taking shape and stablecoin volumes climbing, banks face a vital choice: issue tokenized deposits, launch a stablecoin subsidiary, join a stablecoin consortium (such as The Global 21-Bank Stablecoin Consortium or European bank consortium Qivalis), partner with an established issuer, or pursue more than one path. Each carries different implications for funding costs, capital, customer relationships and regulatory exposure.

This session examines how these models perform once they’re live. The discussion will cover deposit migration risk, net-interest margin impact, reserve and liquidity management, and the use cases generating real revenue, from corporate treasury to cross-border settlement. Panelists will also look ahead to how the competition between bank-issued and nonbank digital money will reshape funding, market share and the bank’s role as the trusted “orchestrator} of programmable money. Other discussion points include: