CAL 2026 focuses on one of the most consequential developments in finance today: the accelerating convergence of traditional finance (TradFi) and decentralised finance (DeFi). This is not merely a technological evolution but a redefinition of how value is issued, transferred, and settled across institutional and decentralised architectures.

A growing trend is at the centre of this transformation: financial instruments traditionally confined to centralised infrastructures are being reimagined in tokenised, programmable forms. Stablecoins, long viewed as peripheral instruments, are now being pulled into the regulatory mainstream. The GENIUS Act in the United States is a case in point—a legislative proposal that aims to bring stablecoin issuance under clear regulatory oversight, acknowledging its growing role in retail and wholesale payments. Yet even as the U.S. remains cautious about central bank digital currencies, blockchain-based financial market infrastructure (FMI) is gaining global momentum. In the UK, the Digital Securities Sandbox (DSS) provides legal and regulatory cover for the settlement of tokenised assets. Across Europe, the DLT Pilot Regime is testing new models of market operation. And increasingly, these experiments are giving way to full-scale systems.

This momentum extends beyond new market entrants. Established financial infrastructure providers are adapting rapidly. DTCC’s “Great Collateral Experiment” demonstrates how tokenised collateral can enhance capital efficiency. Meanwhile, SWIFT’s collaboration with Chainlink explores how cross-chain messaging can extend the reach of existing global networks into decentralised environments. All of this unfolds in a fast-evolving regulatory landscape. International bodies like the Bank for International Settlements (BIS) and national regulators are working to understand and shape the future architecture of financial markets—one that may be partly centralised, partly decentralised, and fully interconnected.

We live at the dawn of a new era of finance, and it is paramount for every player to understand where we came from and where we are going. This conference is designed to achieve this: bringing together crypto-native players, tradfi incumbents, academics, and regulators.