Emmanuel Daniel, chairman of TAB Global highlighted how DeFi is changing the rules of banking, setting new standards that traditional financial systems must adopt as technology and global trade evolve.

As keynote speaker, Daniel emphasised that many bankers are unaware of the growing trend of direct-to-consumer trade on social media platforms, settled with stablecoins. He noted how remote communities, such as village farmers and artisans, can now sell goods and reach global customers. While the volumes may seem small compared to traditional trade, they are growing rapidly and will likely become mainstream.

He also addressed the tokenisation of bank deposits, an initiative explored by the Bank for International Settlements (BIS). While tokenisation offers benefits like increased efficiency and user control, it also introduces risks, as evidenced by the collapse of Silicon Valley Bank.

He concluded by emphasising the need for balanced regulation. Over-regulation, he cautioned, could limit access to new asset classes and stifle innovation. He highlighted the success of MetaKovan, an Indian entrepreneur who rose from poverty to become a billionaire through early investments in Bitcoin. MetaKovan's $69 million purchase of a non-fungible token (NFT) by digital artist Beeple, illustrates how younger generations engage with value creation in a digital-first world.