The Federal Reserve Board announced on September 3 that it will host a Payments Innovation Conference on October 21, with discussions spanning stablecoins, decentralized finance (DeFi), tokenization, and artificial intelligence in payments.
Focus on Emerging Technologies
According to the Fed, the event will feature multiple panels dedicated to the convergence of traditional and decentralized finance, new stablecoin use cases, business models, and applications of AI to payments infrastructure. Tokenization of financial products and services will also be on the agenda.
Fed Governor Christopher Waller underscored the central bank’s ongoing emphasis on technological advancement, noting that innovation has consistently shaped the payments landscape to meet consumer and business needs. He said he looked forward to examining both the opportunities and risks of new payment technologies while exploring ways to ensure safety and efficiency across systems.
Building on Stablecoin Regulation
The October conference follows extensive discussions on stablecoins during the Federal Open Market Committee (FOMC) meetings held July 29–30. Officials reviewed potential financial system impacts after the passage of the GENIUS Act, a federal framework signed into law on July 18 that established regulatory clarity for stablecoin markets.
According to meeting minutes, Fed members recognized the potential for stablecoins to improve payment system efficiency and bolster demand for U.S. Treasury securities often used as collateral. At the same time, they flagged risks for the broader banking system and emphasized the importance of monitoring the quality of assets backing stablecoin issuance.
Waller’s Supportive Outlook
Governor Waller has repeatedly expressed support for blockchain‑based payment models. Speaking recently at the Wyoming Blockchain Symposium, he argued that “there is nothing scary” about DeFi operations, comparing smart contract, based transactions to conventional debit card purchases.
He framed such innovations as a logical progression in financial technology rather than a disruptive threat. Waller also credited stablecoins with increasing global access to U.S. dollars, particularly in high‑inflation countries lacking affordable banking services. Their 24/7 transferability, he said, could help “maintain and extend the role of the dollar internationally.”
Preparing for the Future of Payments
The upcoming October conference highlights the Fed’s active role in studying how stablecoins, tokenization, and DeFi may integrate with existing payment systems. By convening policymakers and industry participants, the central bank seeks to better understand both regulatory challenges and the opportunities posed by digital payment innovation.
Alex Shepel
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