Also, if more assets are going to be treated as balance-sheet tools (staked assets, stablecoins, RWAs, tokenized credit), then the market has to get sharper on how those instruments behave under stress, how they connect to financing, and where friction still hides.That’s why Liquidity 2026 kept steering toward how liquidity is produced, priced, and risk-managed across venues. The program reflected that directly, with sessions on “Trading Is Merging – How Institutional Liquidity Is Bridged, Priced, and Risk- ...

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