The @token2049 week had Accountable on stage, on screen, and hosting events all across Singapore. Here’s the full rundown: > Joined @CapSummitGlobal, on the “From Credit Risk to Token Risk” panel with @Moodys and @particula_io > Joined @Yield_Summit’s “Onchain Credit: Underwriting, Transparency and Risk” panel, with @Re7Labs, @CurveFinance and @pendle_fi > Hosted @DeFinition_evt, the institutional forum for digital assets > Hosted Unlisted once again, our invite-only event > @WojtekP sat down with FintechTV for an interview on Accountable's next chapter > Joined @stblcnsummit’s “Before Stablecoins Count as Cash” panel, alongside @SPGlobalRatings, @GalaxyHQ, Sony Ventures, and @raincards > @WojtekP closed the week by delivering a keynote at @Vault__Summit on Accountable’s next chapter: vault infrastructure advancement, Accountable ledger, fund admin services and more. Thanks for having us Singapore. See you next year!

A huge thank you to @stblcnsummit for having me on stage. It was a pleasure sharing insights on the topic of private credit onchain, and payment flows as yield source. What a great turnout as always, with high calibre attendees. Great way to end @token2049 🇸🇬

day 2 of @token2049 🇸🇬 officially wrapped. quick takes before sleep: > never seen this many fresh projects + booths at TOKEN before, so many new small exchanges. hot take: a lot won’t be here next year > pedalled a bicycle to blend my own fruit smoothie (video soon) > @coinbase trading competition was definitely a highlight. congratz @intern you THE 🐐 (put some wins in the @monad 🦊 money account) > PMF at @stblcnsummit, enjoyed agentic payment rails > stablecoins win when people use the product without caring what chain it’s on > BlackRock, Fidelity, Morgan Stanley + ICE on one tokenization panel. > deep fireside chat with @ethereumJoseph and @joechalom, 🙏 @ethereumhkhub > tokenizing an asset doesn’t magically give it liquidity. distribution still wins > Fragrance Lab at the @SuiNetwork event was top-notch > institutional finance panels + an Ansem roast on the same agenda. this industry 😂 > my eyes were red because of the air p > all you need to do is HODL (did 2.20min) > meet IRL finally frens @jessyfries @IoachimViju @beemtothemoon @candufaz @dee_centralized (so much energy in the room) > @AlsieLC gave me an amazing @Dune report, reading in the next day, THANKS! gn

Alice Truong of @Nuvei on agentic payments: much of the liability shifts to the payment processor, which decodes the intent passing between a user's agent and a merchant's agent. Nuvei is waiting for regulators to set out where that liability sits. Watch the full panel featuring: Hassan Ahmed (@Hassan_NY) of @coinbase, Vincent Chok (@vchok) of @FirstDigitalHQ, Jackie Zhang (@agaperste) of Bridge (@Stablecoin), and Francesco Andreoli (@francescoswiss) of @MetaMask.

For Alex Radu (@Alex__Radu) of Pulsar Money (@PulsarMoneyApp), stablecoin consumer apps should bring incoming routes into a single balance. Whether funds arrive as stablecoins, by bank transfer or from another chain, the user sees one account and can send back out on either rail.

Emma Pecenicic of Fidelity International says onchain markets expect cash to settle on the same rails as the assets. She sees stablecoins, tokenised deposits and money market funds as the place to start.

Tokenised bank deposits, stablecoin liquidity and existing banking facilities, combined. That is the architecture Winston Hsiao of XREX (@xrexinc) sees for banks, with deposit tokens keeping their ability to turn deposits into credit. Watch the full panel featuring: Andrew O'Neill of @SPGlobalRatings, Jacob Laufer (@0xjayzero) of @m0, and Tesa Ho (@defin00b) of Flashbots.

Two years into MiCA, Peter Kerstens of the European Commission says the stablecoin rules are doing what they were designed to do. In his view, regulation is there to keep the market safe and sound, and liquidity, distribution and network effects are up to the market.

Michael Egorov (@newmichwill) of Curve (@CurveFinance) sees smaller fintech companies as the likely first users of onchain FX for non-USD stablecoins, since they lack access to interbank rates. In his view, larger institutions may follow if that market becomes efficient enough. In conversation with Yanis De Busschere of @chain_security.

Drake Evans (@drakeevans) of Agora (@withAUSD) describes correspondent banking as a bundle of services: money movement, settlement, FX, pre-funding, compliance and credit. He sees stablecoins as an upgrade for movement and settlement. Liquidity, compliance and pre-funding, he said, still have to happen. Watch the full panel featuring: Kirit Bhatia of Banking Circle, Martins Benkitis (@MartinsBenkitis) of @GravityTeam_co, Raj Parekh of Monad Foundation (@monad), and Dante Reminick (@DanteReminick) of Halliday Payments (@HallidayHQ).

Sam MacPherson (@hexonaut) of Spark (@sparkfinance) sees onchain FX as the key piece as banks, fintechs and exchanges launch their own stablecoins. His view: users holding different stablecoins need to pay each other, and blockchain rails connect those silos. Watch the fireside chat with Petr Hluze (@PetrHluze) of Nammu Capital.

Benjamin Sarquis Peillard (@Benjamin918), Founder of Cap (@CapApp), sees the need for DeFi to connect its debt markets to real economic activity. In Cap's model, underwriters assess off-chain collateral such as tax credits and receivables, then supply Bitcoin or ETH on chain to back the loan.

Dennis Dinkelmeyer (@DennisMidas) of Midas (@MidasRWA) examines how defending a peg can limit the collateral options open to yield-bearing stablecoins. He describes Midas products as tokenised assets whose price moves with the value of the underlying.

Jakob Kronbichler (@JKronbichler) of Nara (@nara_usd) made the case that an RWA's liquidity depends on its underlying. His proposal: payment financing, which funds the gap between stablecoin transfers and bank settlement, as short-duration credit built to operate in DeFi.

Raja Chakravorti (@rajachak75) of Stellar Development Foundation (@StellarOrg) says banks need risk and compliance sign-off before the technology conversation starts. He points to settlement finality, uptime, and asset controls such as freeze and clawback as what institutions look for. In conversation with Viktor Yelizarov of @Cointelegraph.

Will Nuelle (@willnuelle) of Galaxy Ventures (@galaxyhq) on stablecoin diligence: look at the entity structure behind the reserves. If an issuer becomes insolvent, holders may become creditors, and other senior creditors could have a claim ahead of them. Watch the full panel featuring: Michal Selbka of @SPGlobalRatings, Wojtek Pawlowski (@WojtekP) of @AccountableData, Takaaki Miura of Sony Ventures Corporation, and Julie Nguyen or Rain (@raincards).

Johannes Kern (@jonk93) of Frankencoin Association (@frankencoinzchf) describes optimistic governance: proposals pass by default after a review period unless a small group of token holders vetoes them. Kern says the design is intentionally slow to change.

The Managing Director of the Frankencoin Association @jonk93 is now on stage at @stblcnsummit. The message of the decentralized Swiss franc digital economy, powered by $ZCHF and $FCS, is delivered in one of the world's most important financial hubs, Singapore!

Live at Stablecoin Summit (@stblcnsummit). @WojtekP on stage with Takaaki Miura (Sony Ventures), @willnuelle (@Galaxyhq), Michal Selbka (@SPGlobalRatings), and Julie Nguyen (@raincards) The topic: what it takes for stablecoins to count as cash?

Enterprises supporting multiple stablecoins need a fixed, predictable rate to move between them, says Bhau Kotecha (@bhau___) of Paxos Labs (@paxoslabs). He points to FX interdealer markets as a model and expects the same problem to extend to tokenized assets.