The Future of Capital Markets

A new forum to discuss the Future of Capital Markets. Hear from regulators, issuers and investors as Bitfinex Securities and Blockstream Capital Partners explore how Bitcoin, tokenisation and decentralised technologies can broaden market access, unlock investment and transform capital formation.

Confirmed speakers

Paolo Ardoino

CEO, Tether
CTO, Bitfinex Securities

Adam Back

CEO,
Blockstream

Samson Mow

CEO,
JAN3

Raphael Zagury

CEO, Twenty One Capital
Founder, Elektron Energy

Adam Lawrence

Co-founder and CEO,
RWA.xyz

Richard Byworth

Co-founder and Managing Partner,
BYZ Partners

Peter Paul Pardi

Managing Partner,
Blockstream Capital Partners

Sean Bill

former Co-Founder
and Chief Strategy Officer,
BSTR

Jesse Knutson

Head of Operations,
Bitfinex Securities

Arnab Naskar

Co-Founder
and Business Lead,
STOKR

Luca Esposito

Head of Business
Development EMEA
& APAC, Blockstream
Capital Partners

Frederick Werneman

Blockstream Capital
Partners

Agenda

What's next for Bitcoin
Treasury Companies?

As the bitcoin treasury company model matures beyond its first wave, this panel brings together leaders in the industry to examine what comes next. The discussion will explore the strategies driving bitcoin treasury adoption, the opportunities and risks emerging from this model and its influence on capital markets, corporate finance and investor perceptions of bitcoin as a strategic reserve asset. Speakers will also address capital structuring and how treasury companies can differentiate themselves as the space matures.

From Knowledge to Allocation: Institutional Bitcoin Education in Capital Markets

As Bitcoin becomes increasingly relevant to investors, financial institutions, and policymakers, developing the knowledge, governance, and expertise required to make informed decisions is becoming a strategic priority. We will convene leaders and experts to explore the education gap that still separates institutional curiosity from institutional allocation. The panel looks at what frameworks, research and training are needed to transition from understanding Bitcoin to actually holding it.

Funds, Equity and Beyond
- The Next Wave of Tokenisation

This panel will discuss the next frontier of tokenisation, from funds and equity to other alternative asset classes and examine how it is transforming capital markets and global investment opportunities. Industry leaders and early adopters will address commercial and legal structuring, investor access and where tokenised markets are headed beyond the current wave of stablecoins and bonds.

Bitcoin Performance, Macro Shifts and the Road Ahead

This panel will unpack bitcoin's performance against a shifting macroeconomic backdrop, while reflecting on the defining events of the previous year. Speakers will explore the forces influencing bitcoin's evolution and the outlook for markets and adoption. The conversation will cover how macroeconomic forces are shaping institutional appetite for bitcoin and what corporates and investors should watch heading into 2027.

Building a Fully Integrated Bitcoin Financial Ecosystem

This panel will unpack what a fully integrated Bitcoin financial ecosystem looks like spanning custody, capital markets, lending and payments. The panel will explore how these elements are converging and what infrastructure is still missing to create a fully integrated ecosystem capable of serving retail, institutional and sovereign participants.

Trends Shaping Tokenised Markets

Tokenised markets are evolving rapidly as new technologies, regulatory developments and institutional participation reshape the digital asset landscape. This session aims to explore the key trends driving market growth and the infrastructure needed to support the next generation of global capital markets. The discussion will also focus on what's driving adoption and where the biggest structural bottlenecks remain.

Unlocking Bitcoin Capital: Lending, Borrowing and the Future of Credit

Bitcoin is evolving beyond a store of value into productive financial collateral. This panel aims to explore how bitcoin-backed lending is creating new opportunities for individuals, institutions and businesses to unlock liquidity. The discussion will examine lending markets, collateral management, risk frameworks and the role of bitcoin in the future architecture of global credit markets.

Tokenisation Around the World

From financial centres to sovereign innovators, jurisdictions around the world are taking different approaches to the tokenisation of securities and real world assets. This panel will explore how regulatory innovation, digital infrastructure and forward-looking policy frameworks are enabling tokenised capital markets. It will also highlight lessons learned, common challenges and best practices for building globally competitive financial ecosystems. Panellists will share practical lessons on building regulatory frameworks that attract capital within international standard regulatory norms.

Fixed Income and Tokenised Collateral

This panel examines how tokenisation is beginning to reshape fixed income markets and collateral management. Speakers will discuss efficiency gains, settlement speed and what it will take for tokenised fixed income products to reach institutional scale. Industry leaders will unpack how tokenised bonds, money market instruments and digital collateral are improving market efficiency, settlement and liquidity, while examining the opportunities and challenges for institutional investors as fixed income increasingly moves on-chain.

2026 Review & 2027 Outlook

This closing headliner panel featuring two global industry leaders will conclude with a forward-looking conversation reflecting on the major developments that shaped bitcoin, digital assets and tokenised securities throughout 2026. Looking ahead to 2027, the discussion will explore emerging trends, technological innovation, institutional adoption and how bitcoin and tokenisation are shaping the future of global financial markets.

A global conversation, built over time

Bitfinex Securities and Blockstream Capital Partners have hosted conversations across Europe and Latin America, bringing together leaders from traditional finance, digital assets and regulation.

Explore previous editions

Speaker at Bitfinex Securities Day with microphone

Speaker at Bitfinex Securities Day wearing a cap

The Future of
Capital Markets: Lugano 2026

Confirmed speakers

Paolo Ardoino

Adam Back

Samson Mow

Raphael Zagury

Adam Lawrence

Richard Byworth

Peter Paul Pardi

Sean Bill

Jesse Knutson

Arnab Naskar

Luca Esposito

Frederick Werneman

Agenda

What's next for Bitcoin
Treasury Companies?

From Knowledge to Allocation: Institutional Bitcoin Education in Capital Markets

Funds, Equity and Beyond
- The Next Wave of Tokenisation

Bitcoin Performance, Macro Shifts and the Road Ahead

Building a Fully Integrated Bitcoin Financial Ecosystem

Trends Shaping Tokenised Markets

Unlocking Bitcoin Capital: Lending, Borrowing and the Future of Credit

Tokenisation Around the World

Fixed Income and Tokenised Collateral

2026 Review & 2027 Outlook

A global conversation, built over time

The Venue

Confirmed speakers

Paolo Ardoino

Adam Back

Samson Mow

Raphael Zagury

Adam Lawrence

Richard Byworth

Peter Paul Pardi

Sean Bill

Jesse Knutson

Arnab Naskar

Luca Esposito

Frederick Werneman

Agenda

What's next for BitcoinTreasury Companies?

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A global conversation, built over time

The Venue

What's next for Bitcoin
Treasury Companies?