TOKEN2049 Singapore was a melting pot of global leaders and cutting-edge trends in the crypto space with over 20,000 visitors, 400 exhibitors, and 600 side events.

Amid all of the expert discussions and industry thought leadership, I sat down to examine what I thought were the most important takeaways from the world’s biggest crypto event.

Takeaway #1. Stablecoins will ‘eat the world’

If there’s one thing that was crystal clear at TOKEN2049, it’s that blockchain payments are rapidly moving from sporadic exploration to mass experimentation. I had the opportunity to participate in several panels and fireside chats with industry giants like PayPal, Galaxy, Shift4, and Mesh, as well as Visa at Solana Breakpoint. In addition, Fireblocks Senior Director of Banking and Asset Management, Neil Chopra, also spoke about setting a new industry standard for regulated stablecoin issuance with Chainlink at the Stablecoin Standard event, and Fireblocks CEO, Michael Shaulov, discussed tokenization shaping the future of finance on the TOKEN2049 Main Stage.

The recurring theme? The unstoppable rise of stablecoins.

The numbers don’t lie.

Visa’s recent report revealed that in the first half of 2024 alone, stablecoins settled over $2.6 trillion worth of value. It’s not just about the numbers, though. Stablecoins offer significant advantages over existing payment systems, including native programmability, strong auditability, fast settlement, self-custody options, and seamless interoperability.

From my discussions both on and off stage, it’s evident that stablecoins are far from a passing fad. They’re being used for everything from cross-border payments and remittances to trade settlements. Individuals and businesses worldwide are embracing the ability to have direct custody over tokenized representations of fiat currencies. In my view, stablecoins are not just a flash in the pan but are here to stay, and will play a crucial role in reshaping the future of finance.

Takeaway #2. RWA tokenization: promise amid early stages

The crypto industry is tired of old narratives.

It was clear at TOKEN2049 that the industry is hungry for practical, real-world use cases that promise to make blockchain ubiquitous.

Enter Real World Asset (RWA) tokenization.

The tokenized alternative assets market, including real estate, carbon credits, art, commodities, and metals, is projected to reach $200 billion by 2030. That’s an enormous potential we can’t ignore.

However, it’s important to note that many RWA tokenization projects are still in their early stages. They’re grappling with asset selection, technology development, and regulatory compliance while trying to balance innovation with investor protection.

At Fireblocks, we’re excited to be part of this movement. For instance, DigitalX‘s ‘DxART Fund’ in Australia offers fractional ownership of properties to address the housing deposit affordability gap. Then there’s Tres Homes, which allows investors to buy fractions of high-demand properties in the short-term rental market while also contributing to building homes for families in need.

We’re also working with platforms like RWA Inc., providing them with the infrastructure to deploy smart contracts, mint and custody tokens, as well as facilitate on- and off-ramping with liquidity providers via the Fireblocks Network.

Takeaway #3. Security is the non-negotiable for crypto builders

It cannot be stressed enough just how crucial security is.

The fact that $1.2 billion was lost to hacks in 2024 alone is a stark reminder of the evolving threats we face. At TOKEN2049, there was unequivocal agreement that security standards need to keep pace with increasingly sophisticated attacks.

For institutional investors, the stakes are even higher. They’re managing significantly larger funds than the average consumer trader, and the risks associated with on-chain engagements can be a major deterrent.

The more heavily-resourced, security-oriented businesses are assigning the responsibility of on-chain security assessment to specific individuals and sometimes entire teams. That function within the organization is essentially an extension of the concept of business analysts who would assess trading opportunities, with the main difference being that these on-chain security teams are now examining protocols and dApps. However, this is not something that every organization is willing to invest in, or is able to set up.

Needless to say, it is the organizations that invest in, and prioritize, security that will stand to reap the greatest benefits. Security and innovation must go hand-in-hand in order for the industry to continue to take important strides forward.

TOKEN2049 in Singapore was an incredible experience for our Fireblocks team. The energy, the innovations, and the discussions all point to an exciting future. While we might not be singing about building castles in the sky just yet, conversations at TOKEN2049 hit all the right notes and the foundations we’re laying are stronger than ever.

Want to learn more about our Tokenization Engine? Watch our latest video outlining our platform and if you like what you see request a full demo from one of our experts.