Download the full Value in Transition whitepaper to explore how money, payments and digital finance are evolving in practice. This paper examines the shift from traditional bank-led rails to programmable settlement, and explains what hybrid, multi-rail operation means for banks, EMIs and payment firms operating under regulatory pressure.
Inside, you’ll find a neutral, research-led analysis of stablecoins, tokenised deposits and cross-border infrastructure, alongside practical guidance on routing value across different rails without increasing risk or lock-in. If you are assessing liquidity costs, settlement timing, regulatory divergence or operational resilience, this paper provides a clear framework to inform your next steps.