The forum brought together leaders from across traditional finance, digital assets, technology, and policy to examine the infrastructure, market structure, and regulatory considerations shaping the continued convergence of traditional and digital financial markets.
Wall moderated “The Infrastructure Layer” panel, which featured Stephen Gardner, Co-President of Zerohash; Edward Nasti, Vice President and Head of Legal at Alpaca; and Austin Reid, Global Head of Revenue and Business at FalconX. The panel explored the infrastructure required to support growing institutional participation in digital assets, including compliance, access to global liquidity, stablecoins, tokenization, and evolving regulatory requirements across jurisdictions.
The discussion focused on how growing specialization across trading, custody, liquidity, settlement, and compliance is increasing the importance of interoperability, operational resilience, and capital efficiency for institutional adoption. Participants highlighted the increased emphasis on asset segregation, proof of reserves, counterparty resilience, and regulatory coverage in institutional due diligence, alongside the increasing integration of compliance requirements directly into digital asset infrastructure.
The conversation also addressed the expanding role of banks in stablecoins and tokenized assets, the potential for greater market consolidation, and the need for clearer regulatory coordination, including guidance from the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), as well as the CLARITY Act, to support continued institutional participation and product development.
“Digital asset infrastructure is entering an institutional phase, where scale depends on more than technology alone,” said Adrian Wall, Managing Director of DSA. “Compliance, interoperability, and regulatory coordination will determine whether stablecoins, tokenized assets, and global liquidity can develop into trusted financial infrastructure supported by clear, workable policy frameworks.”
Through its participation in The Digital Chamber’s Convergence Forum in New York City, DSA remains committed to advancing research, stakeholder engagement, and policy discussions that support responsible innovation, strengthen digital sovereignty, and contribute to the development of secure and inclusive digital financial infrastructure.
About the Digital Sovereignty Alliance
The Digital Sovereignty Alliance (DSA) is a nonprofit social welfare organization committed to advocating for public policies that support ethical innovation in decentralized technologies, blockchain, cryptocurrency, Web3, and artificial intelligence. DSA conducts research, organizes educational events, and promotes policies that prioritize public welfare and digital sovereignty.
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