Unlocking alternative payment platforms in the US
While US policy-makers are evaluating whether a central bank digital currency is in the national interest, the private sector is steaming ahead with various forms of tokenised cash and financial market participants are working hard to tokenise a range of assets. Regulators must come to a thorough understanding of the new rails on which value is being exchanged so that they can continue to provide effective oversight and minimise risk without stifling innovation.
Against this backdrop, OMFIF’s Digital Monetary Institute was honoured to be joined by Nellie Liang, under-secretary for domestic finance at the US Treasury, for an in-person roundtable in Washington DC on alternative payment platforms in the US. During the roundtable, participants focused on two main areas: fast payment systems and tokenisation.
The session discussed the technical and regulatory requirements for upgrading the legacy capabilities of central bank money and explored the potential implications for consumers, investors and businesses. The conversation also delved into the long-term vision for the integration of CBDCs, tokenisation and stablecoins into the broader US financial ecosystem, including potential benefits for economic growth and resilience.
Speakers
Nellie Liang
Under Secretary for Domestic Finance
US Treasury
Nellie Liang
Under Secretary for Domestic Finance
US Treasury