Digital assets are reshaping how money moves across financial markets. As tokenization expands and settlement cycles compress toward real time, financial institutions must determine how to represent fiat money on-chain in a way that preserves regulatory compliance, operational resilience, and balance sheet efficiency. Deposit tokens and stablecoins offer two competing approaches to this challenge. In this Lightning Talk, ioBuilders CEO Carlos Matilla will explore the strategic implications of these models, providing a clear framework for understanding how digital money will integrate with existing banking systems and enable new financial market infrastructures.

• Two models for on-chain money: comparing bank-issued deposit tokens and stablecoins in terms of structure, governance, and market role.
  
• The role of commercial bank money in tokenized financial markets and why its on-chain representation matters.
  
• How digital money interacts with traditional banking infrastructure, including settlement networks and liquidity management.
  
• Example transactional flows illustrating how deposit tokens and stablecoins operate within real financial processes.
  
• Integration challenges and design choices when connecting blockchain networks with existing banking technology stacks.
  
• Compliance and control frameworks required for institutional adoption of on-chain money.
  
• Emerging market practices and industry initiatives shaping the evolution of digital money.
  
• Strategic considerations for financial institutions entering the next phase of on-chain finance.

Tokenization is not a new asset class, it is an infrastructure upgrade.
The key message is that the hard part is not putting an asset on-chain. The hard part is operating it: issuer onboarding, transfer agency, servicing, compliance, fund administration, lifecycle management, and distribution.

• Tokenization is moving from pilot phase to real adoption.
• Execution is now the bottleneck, not concept validation.
• Servicing and regulated infrastructure are where long-term value and defensibility sit.

Regulatory clarity alone will not secure a bank’s position in on-chain finance. The real differentiator is treasury execution. As stablecoins and tokenized assets reshape liquidity, settlement, and balance sheet strategy, institutions must decide whether to lead or be disintermediated. In this Lightning Talk, AlphaPoint CPO Joaquín Ayuso de Paul will present the business case for integrating institutional grade stablecoin infrastructure into treasury operations to capture real time liquidity, unlock new revenue models, and compete effectively in a tokenized financial system. Discussion points include:

• The strategic rationale for embedding stablecoins into bank treasury operations.
• Stablecoins as programmable balance sheet instruments rather than simple payment mechanisms.
• Aligning tokenization strategies, including deposits and RWAs, with treasury infrastructure.
• Managing liquidity and risk in 24/7 settlement environments.
• Governance, controls, and policy enforcement required for institutional stablecoin operations
• Modernizing legacy treasury systems to support atomic settlement and on chain asset flows.
• Competitive risks and revenue implications of delaying treasury transformation.