Stefan Grasmann explores how financial infrastructure is undergoing a profound transformation—evolving from early crypto assets, through the rise of digital money and liquidity instruments, toward fully tokenised capital markets. He highlights how public blockchains are increasingly used as shared infrastructure for both money and assets, enabling more efficient settlement, delivery-versus-payment, and new forms of credit. As regulated digital money gains traction, the groundwork is being laid for broader institutional adoption.

Keynote, 20 to 30 minutes, updated for each audience. First held at the HSG Alumni Conference in Munich. Most recent delivery with recording: THM MBA Alumni Day, Frankfurt, October 2026.

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