Tokenisation, payments, and stablecoins continue to dominate the cryptocurrency landscape, as experts at major crypto events in Singapore highlight the growing influence of these innovations. Tokenisation, the process of digitally representing real-world assets like bonds and equities on the blockchain, is transforming capital markets by enhancing liquidity and capital efficiency.
Michael Shaulov, CEO and co-founder of Fireblocks, a leading custody technology provider, remarked, “Tokenisation is driving Wall Street’s adoption of blockchain technology.” He pointed to BlackRock’s tokenised treasury product, BUIDL, which has quickly surpassed a market value of $500 million in just four months since its debut.
Shaulov further noted, “We’ve seen tokenisation projects on our network triple this year, and we expect this momentum to build further.” This surge in interest underscores the potential of tokenisation to revolutionise traditional financial markets.
Crypto Payments Gaining Traction
Payments powered by cryptocurrency are also emerging as a key trend. Saad Ahmed, Asia-Pacific chief of crypto exchange Gemini, highlighted the efficiency gained by using crypto as an infrastructure layer for payments. “We’re seeing a lot of innovation in this area,” Ahmed noted, signalling that cryptocurrency is becoming increasingly relevant in global transactions.
Jeremy Allaire, CEO and co-founder of Circle Internet Financial, echoed this sentiment, stating that more start-ups are now building applications to drive demand for crypto-powered payments. “Companies are seeking to build a super app type of experience as Web3 technology grows,” Allaire added.
Stablecoins at the Forefront
Stablecoin innovation is also making waves, particularly in Asia. Hassan Ahmed, country director of Coinbase Singapore, commented on the increasing popularity of non-US dollar stablecoins such as those pegged to the Singapore dollar, Philippine peso, and Australian dollar. “There is a lot of energy around non-US dollar stablecoins,” he said, emphasizing Asia’s leading role in this space.
Ahmed also predicted that artificial intelligence (AI) will play a transformative role in the future of cryptocurrency. “Looking ahead, businesses must integrate AI into their payment systems to capitalize on the growing AI-to-AI economy,” he said, stressing the need for companies to adapt to an AI-driven financial landscape.
Staking and Scalability Drive Future Growth
Staking, a service allowing users to earn yields by using their tokens to facilitate blockchain transactions, is also expected to gain momentum. Alex Svanevik, co-founder and CEO of Nansen, highlighted staking as a key area of growth in the coming months. Nansen recently acquired a staking service provider, reflecting the increasing interest in this sector.
Meanwhile, local bank DBS is exploring staking options for its clients, adding to the growing adoption of this service by financial institutions.
However, regulatory hurdles remain a challenge for the crypto industry. Experts highlighted the need for clear legal frameworks to promote adoption and ensure users are protected. “The key challenge is making the technology work everywhere and at scale,” Allaire noted, underscoring the importance of regulatory clarity.
Regulatory Uncertainty and Future Outlook
The crypto space faces headwinds from inconsistent regulations across different jurisdictions. As Shaulov explained, scalability and interoperability are critical for blockchain networks to support a wide range of use cases without compromising security or performance.
Market observers are also closely watching the impact of the upcoming US election, which is expected to cause some turbulence in the crypto market. “The US election will certainly cause some turbulence—not just for crypto, but in all markets,” Svanevik remarked. The current administration’s approach to crypto has been hostile, but the outcome of the election may significantly alter the regulatory environment.
As the crypto world continues to evolve, major events like Singapore’s Token2049 provide a glimpse into the future. With over 400 exhibitors and more than 20,000 attendees, this year’s conference showcases the industry’s growing influence and the increasing role of tokenisation, payments, and stablecoins in shaping the digital asset landscape.
