FailSafe Partners with StraitsX and Polygon for Stablecoin Leadership Night at Token2049

As the world flocked to Singapore for this year’s edition of Token2049, FailSafe headlined a widely-attended event alongside StraitsX and Polygon Labs with a panel discussion on the global stablecoin and digital assets landscape.

The digital finance landscape in the Asia-Pacific (APAC) region is undergoing significant change, and at the heart of this shift is the rise of stablecoins. At Token2049 Singapore, FailSafe co-hosted a panel discussion, “Stablecoins Unchained: Navigating the Future of Digital Finance.”

This event brought together key decision-makers and stakeholders across the blockchain, digital payments, and stablecoin ecosystems to explore the future trajectory of these digital assets. Against the backdrop of a changing financial landscape, the panel highlighted the growing role of stablecoins as a bridge between traditional finance (TradFi) and decentralised finance (DeFi), shedding light on the opportunities and challenges ahead.

Featured Panelists

Moderated by Foo Wui Ngiap, CEO & Co-Founder of Ethlas and a former Head of Technology at Grab, the discussion was steered by a seasoned expert with a deep understanding of both financial services and technological innovations.

With over a decade of experience spanning Credit Suisse, Google, and Grab, Wui’s diverse background in tech leadership brought valuable insights into the convergence of TradFi and DeFi. His perspective, shaped by years of experience in fintech, made him the ideal moderator to guide the conversation around the real-world use cases and advancements surrounding stablecoins.

The panel was enriched by the participation of Aneirin Flynn, CEO & Co-Founder of FailSafe, Singapore’s leading experts in digital asset security. With FailSafe’s core mission focused on securing blockchains, smart contracts, and digital assets, Flynn emphasised the importance of integrating robust, compliance-driven solutions to ensure the safety and reliability of stablecoins in the market.

His background, which includes working on high-impact projects for governmental entities, Revolut, and TikTok, and his experience as a Navy intelligence officer, provided a unique lens on the critical role of security in the stablecoin ecosystem.

Puneet Gambhir, Head of Risk and GrabDefence at Grab, brought a varied yet highly relevant perspective. Leading efforts to implement fraud detection and digital identity verification technologies across Grab’s platforms, Puneet’s expertise in risk management illuminated the importance of building trust in stablecoin transactions.

His two decades of experience in AI, analytics, and risk management helped connect the dots between stablecoin novelties and the safety measures required to promote mainstream adoption.

Rounding out the discussion was Liu Tianwei, CEO & Co-Founder of StraitsX, and Chyi Yan Hshieh, Head of Business Development at Polygon Labs, Southeast Asia. Tianwei, with his extensive experience in Silicon Valley and deep expertise in digital payments, highlighted StraitsX’s journey in integrating stablecoins into cross-border payment networks across APAC. His focus on expanding the global financial ecosystem with stablecoins brought to light the significant progress made in providing accessible, borderless payments for underbanked markets.

Meanwhile, Chyi Yan Hshieh’s insights into blockchain scalability, drawn from his role at Polygon Labs, emphasised the importance of strategic collaboration in realising the full potential of stablecoin and digital asset projects.

Event Highlights

The panel discussion covered a broad array of themes, with a clear focus on the significant impact of stablecoins in today’s digital economy. Speakers examined how stablecoins and digital assets are reshaping financial services, from payments to decentralised finance, while addressing both opportunities and challenges for wider adoption.

The Role of Stablecoins and Digital Assets in Financial Inclusion

Stablecoins are reshaping the digital finance ecosystem by serving as a bridge between the volatility of cryptocurrencies and the reliability of traditional financial systems. Panelists agreed that stablecoins have become more than just a means of exchange, evolving into catalysts for financial inclusion, particularly in underserved markets.

Liu Tianwei highlighted real-world use cases, explaining how StraitsX has successfully utilised stablecoins to streamline cross-border payments across ASEAN regions, making transactions faster, cheaper, and more accessible to communities with limited banking infrastructure. The panel further explored how stablecoins could democratise access to digital assets, offering protection against inflation in regions where local currencies are unstable.

The Convergence of TradFi and DeFi

Another key point of the discussion was the growing convergence of traditional and decentralized financial systems. It was highlighted how the rise of DeFi and self-custody solutions is challenging conventional banking models.

The speakers noted how the increasing use of stablecoins, alongside decentralised finance, is driving a shift towards greater financial autonomy, transparency, and user control. Additionally, digital identity verification and fraud detection technologies have become essential for safeguarding users in this changing financial landscape.

Real-World Use Cases

As stablecoins become a more central part of the global financial system, the discussion explored their influence beyond just payments. From supply chain management to DeFi ecosystems, stablecoins are starting to reshape various industries such as lending and payments.

Efforts to improve blockchain scalability were highlighted, ensuring stablecoins can function effectively across multiple decentralised applications. The conversation also touched on how stablecoins could potentially create disruptive new business models, particularly in areas like digital identity and cross-border payments.

Navigating Regulatory Complexities

However, as the stablecoin market continues to grow—projected to exceed $300 billion by 2025—panelists acknowledged the pressing need for regulatory clarity. While stablecoins hold immense potential, their long-term success hinges on the creation of a harmonised global regulatory framework.

Flynn, drawing from his expertise in regulatory compliance at FailSafe, highlighted the importance of balancing progress with compliance. The industry must proactively engage regulators to ensure that stablecoins remain secure, scalable, and integrated into existing financial systems without compromising on safety.

Stablecoins on the Rise

Token2049 Singapore showcased one of the most significant discussions of the event calendar, with “Stablecoins Unchained” being a standout session. The insightful contributions from leaders at FailSafe, StraitsX, and Polygon Labs brought to the forefront the critical role of stablecoins in the future of global finance.

This event succeeded in highlighting the critical conversations around regulatory challenges, technological innovation, and the future of stablecoins, cementing its reputation as a leader in securing the future of digital finance.

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FailSafe is a cybersecurity partner uniquely equipped to assist enterprises in complying with consumer protection and technological risk management requirements. We are the only blockchain security provider offering holistic security and real-time threat response against exploits, hacks, and suspicious activities as they’re happening.

Currently protecting over $300M in digital assets, FailSafe closely collaborates with the Singapore government and the Singapore dollar (SGD) stablecoin to stop exploits in real-time, preventing total loss of funds and de-pegging events. Our modular tools supercharge the security of blockchain enterprises with cutting-edge capabilities like smart contract defence, fraud detection and internal risk scoring, programmable multi-sig wallet security, SDK integrations, advanced threat intelligence, and recovery of at-risk crypto assets.

Learn more about our products or contact us to upgrade your blockchain security today.