Overview
The Third New York Fed Conference on FinTech brought together leading academics, policymakers, and industry leaders to further their understanding of the impact, implications, and direction of FinTech. The conference covered recent developments in FinTech, including the perils and promises of stablecoins, the rise of decentralized finance, implications for cross-border payments, and countries’ experience with open banking and open finance.
watch the event
Session I
Session II
Session III
Session IV
Session V
Audience
This event was by invitation-only for in-person attendees; and was open to the public virtually.
Media
All remarks were on the record, with a recording to be made available afterward. For Media inquiries please contact Mariah Measey at mariah.measey@ny.frb.org.
Organizers
Pablo Azar, Federal Reserve Bank of New York
Asani Sarkar, Federal Reserve Bank of New York
Program Committee
Hampton Finer, Federal Reserve Bank of New York
Antoine Martin, Federal Reserve Bank of New York
Sishush Maru, Federal Reserve Bank of New York
Per von Zelowitz, Federal Reserve Bank of New York
Event Details
Location
Federal Reserve Bank of New York
33 Liberty Street
New York, NY 10045
Federal Reserve Bank of New York
33 Liberty Street
New York, NY 10045
Agenda
| 8:30am | Continental Breakfast |
| 8:45am | Welcoming Remarks Michelle Neal, Federal Reserve Bank of New York |
| 9:00am | Panel 1: Stablecoins: Perils and Promises Moderator: Pablo Azar, Federal Reserve Bank of New York Austin Campbell, Paxos Marco Di Maggio, Harvard Business School Cesare Fracassi, Coinbase |
| 10:00am | Coffee Break |
| 10:15am | Academic Session 1: Stablecoins and DeFi Moderator: Julapa Jagtiani, Federal Reserve Bank of Philadelphia What Keeps Stablecoins Stable? Richard K. Lyons, University of California, Berkeley Ganesh Viswanath-Natraj, Warwick Business School | Presentation Discussant: Uday Rajan, Michigan Ross School of Business | Presentation Making Money Gary B. Gorton, Yale School of Management Chase P. Ross, Federal Reserve Board of Governors | Presentation Sharon Y. Ross, U. S. Treasury, Office of Financial Research Discussant: Antoine Martin, Federal Reserve Bank of New York | Presentation Inclusion and Democratization through Web3 and DeFi? Initial Evidence from the Ethereum Ecosystem Will Cong, Cornell University Johnson Graduate School of Management | Presentation Ke Tang, Tsinghua University Yanxin Wang, Xi’an Jiaotong University Xi Zhao, Xi’an Jiaotong University Discussant: Agostino Capponi, Columbia University |
| 11:45am | Lunch |
| 12:45pm | Panel 2: Enhanced Payments across Borders Moderator: Hampton Finer, Federal Reserve Bank of New York Ross Leckow, Bank for International Settlements David Ornstein, Baton Systems Scott Shay, Signature Bank Ryan Zagone, Wise |
| 2:00pm | Coffee Break |
| 2:15pm | Academic Session 2: Open Banking Moderator: Nicola Cetorelli, Federal Reserve Bank of New York Customer Data Access and Fintech Entry: Early Evidence from Open Banking Tania Babina, Columbia Business School Greg Buchak, Stanford Graduate School of Business | Presentation Will Gornall, University of British Columbia Sauder School of Business Discussant: Yao Zeng, University of Pennsylvania | Presentation Open Banking under Maturity Transformation Itay Goldstein, Wharton Finance, University of Pennsylvania | Presentation Chong Huang, University of California, Irvine, Paul Merage School of Business | Presentation Liyan Yang, University of Toronto Rotman School of Management Discussant: Todd Keister, Rutgers University | Presentation Open Banking: Credit Market Competition When Borrowers Own the Data Zhiguo He, University of Chicago, Booth School of Business Jing Huang, Texas A&M University, Mays Business School Jidong Zhou, Yale School of Management Discussant: Charles Kahn, University of Illinois at Urbana-Champaign | Presentation |
| 3:45pm | Coffee Break |
| 4:15pm | Panel 3: Open Finance Moderator: Joseph Cox, Federal Reserve Board Umar Farooq, Onyx by JP Morgan Chuck Mounts, S&P Global Charles Woods, Bank of England |
| 5:15pm | Adjourn and Reception, 13th Floor Pre-function area |
Speakers
Financial Research Economist
Federal Reserve Bank of New York
Assistant Professor of Finance
Stanford Graduate School of Business
Head of Portfolio Management
Paxos
Associate Professor
Columbia University
Head of Non-Bank Financial Institution Studies
Federal Reserve Bank of New York
Rudd Family Professor of Management and Associate Professor of Finance
Cornell University SC Johnson College of Business & NBER
Manager, Supervision & Regulation
Federal Reserve Board
Global Head of Financial Institution Payments and CEO
Onyx by J.P. Morgan
Policy Strategy & Analysis Program Director
Federal Reserve Bank of New York
Chief Economist & Director of Economic Education
Coinbase
Joel S. Ehrenkranz Family Professor and a Professor of Finance
Wharton School of the University of Pennsylvania
Assistant Professor of Finance
Texas A&M University, Mays Business School
Senior Economic Advisor & Economist
Federal Reserve Bank of Philadelphia
Professor Emeritus of Finance
University of Illinois
Professor of Economics
Rutgers University
Ross Leckow
Acting Head of the BIS Innovation Hub
Bank for International Settlements
Ogunlesi Family Associate Professor
Harvard Business School
Financial Research Advisor
Federal Reserve Bank of New York
Chief DeFi Officer
S&P Global
Assistant Professor of Finance
Warwick Business School
Head of the Markets
Federal Reserve Bank of New York
Chief Operating Officer
Baton Systems
David B. Hermelin Professor of Business Administration and Professor of Finance
University of Michigan, Ann Arbor
Federal Reserve Board
Economist
Co-founder and Chairman
Signature Bank
Head of New-Mid Tier Banking Supervision UK Deposit-Taker
Prudential Regulation Authority
Head of Americas
Wise for Banks
Assistant Professor of Finance
The Wharton School, University of Pennsylvania
