Pradyumna Agrawal, Managing Director of Temasek, said at the Singapore Token2049 "Institutionalization of Digital Assets" roundtable: "In terms of key management, individual key management solutions and institutional key management solutions for interacting with encrypted assets are different. Institutions will fully adopt a fully encrypted approach that directly faces consumers, and any institution needs a certain security protection process. Cash risk management is still important, and I don't think we can hope it will disappear. There are problems with the banking system, but there are also problems with stablecoin issuance systems.

So it is necessary to build interesting new technologies in the encryption field. This is very useful in the context of native encrypted assets, but it will also transfer some of them to the more strictly regulated and protected areas and use the best technology there. But we will also learn how to interact with it, and it still needs KYC and AML and needs to be able to create this new infrastructure. One thing I want to emphasize is that it will not come with a single leading platform.

So it will still come from a new infrastructure created entirely by fintech companies or native encryption companies and ultimately used by other participants. Now, it may provide support as an equity investor or customer, but it will be a completely new infrastructure, and this will vary by different approaches."