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Rahul Advani
Global Co-Head of Policy
Ripple
Rahul Advani is the Global Co-Head of Policy at Ripple.
Based in Singapore, Rahul oversees Ripple’s engagement and advocacy with regulators and policymakers in the APAC and EMEA regions, working with Ripple's regional policy teams to support and develop regulation that promotes responsible innovation in digital assets and blockchain technology.
Prior to joining Ripple, Rahul spent over 12 years in financial services, most recently as the Head of Public Policy, Asia Pacific at the International Swaps and Derivatives Association, Inc. Prior to that, Rahul worked with Bloomberg L.P. in their offices in Mumbai, Singapore, and Hong Kong in multiple roles across valuations, business development, and sales for both exchange-traded and OTC derivative products.
Rahul is the Chair of the Blockchain Association of Singapore Stablecoin and CBDC Subcommittee, and an Ambassador for the Global Blockchain Business Council (GBBC). He is also Co-Chair of the GBBC Digital Money & Wallets Working Group.
He holds a Master in Public Policy from the Lee Kuan Yew School of Public Policy in Singapore.
講演
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1:30–3:00午後木 26 2月GFTN InsightsRoundtable Room 2, Bellesalle 5FPremiumModerator
Blueprint for Digital Assets
The Digital Dollar in Japan: Unlocking Institutional Liquidity, Collateral, and Tokenised Trade through USD-backed Stablecoins | 日本でのデジタルドル活用──米ドル建てステーブルコインが支える金融市場の流動性・担保・トークン化取引
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Alan LimDirector & Head, Financial Infrastructure & Artificial Intelligence OfficeMonetary Authority of Singapore
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Fernando VázquezPresident, Capital MarketsChainlink
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Gopal RDirector, Global Payments SolutionsBank of America
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Kefei LinDirectorSBI Onchain
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Kelvin TanlMADBS Bank
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Michael HoAsia Pacific PartnerOliver Wyman
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Pamela LeeHead of Asia Pacific SalesTalos
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Sulolit Raj MukherjeeFounder & Chief Executive OfficerBodin Advisory LLC
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Yusuke TakezawaVice President, Global Business DevelopmentProgmat, Inc.
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Rahul AdvaniGlobal Co-Head of PolicyRippleModerator
About this session
Following the implementation of the amended Payment Services Act1 in June 2023, Japan has established a clear regulatory pathway for the distribution of globally-issued, USD-backed stablecoins via licensed domestic intermediaries. As the global stablecoin market now exceeds $300 billion, with USD stablecoins accounting for over 95% of total volume, Japanese and global financial institutions (FIs) are now commercially deploying USD stablecoins for institutional use.
For Japan to solidify its status as a global Web3 and tokenisation hub, the commercial integration is a strategic necessity for both leading domestic banks and global FIs.
This roundtable focuses on the commercial pathways for institutions looking to integrate USD stablecoins in an era of institutional-grade digital finance. We will explore the practical integration of USD stablecoins into the Japanese market, following the regulatory clarity provided for foreign-issued assets. The discussion will highlight how these tokens serve as digital-native liquid assets, offering Japanese financial institutions and corporations a more efficient tool for institutional use cases. By evaluating the tangible benefits - from reduced settlement risk to 24/7 liquidity - we will outline how FIs can better service a modern, tokenised economy.
2023年6月の改正資金決済法の施行を受け、日本では、グローバルに発行された米ドル建てステーブルコインを、登録済みの国内仲介業者を通じて流通させるための明確な規制ルートが整備されました。世界のステーブルコイン市場は現在3,000億ドルを超え、その総発行額の95％以上を米ドル建てステーブルコインが占めています。こうした状況を背景に、日本および海外の金融機関は、機関業務において米ドル建てステーブルコインの活用を本格化させています。
日本がWeb3およびトークン化分野の世界的な拠点としての地位を確かなものにするためには、国内の主要銀行だけでなく、海外の金融機関もこうした仕組みを商業的に活用することが戦略的に重要となります。
本ラウンドテーブルでは、金融機関によるデジタル技術の実用化が進むなかで、USDステーブルコインを実際の金融業務にどう取り入れていくか、その具体的な道筋を探ります。具体的には、海外発行資産に対する規制の明確化を踏まえ、日本市場での米ドル建てステーブルコインの実践的な活用について検討します。さらに、これらのトークンがデジタルネイティブな流動資産として果たす役割に着目し、日本の金融機関や企業にとって、業務や取引に活用できるより効率的な手段となり得る点を示します。決済リスクの低減や24時間365日の流動性といった具体的な利点を検証しながら、金融機関がトークン化が進む経済にどのように対応していくべきか、その方向性を明らかにします。 -
