Tokenized Money Market Funds (APAC Edition)
Evolution, Not Revolution
Join us as we discuss how tokenization marks the latest evolution of a rapidly expanding asset class. If not properly managed, it may introduce new risks that warrant careful assessment.
Discussion topics include:
- Explore how tokenization is reinvigorating the rapidly growing money market fund industry, creating a bridge between traditional and decentralized finance and offering an institutional alternative to stablecoins.
- Understand what changes and what stays the same, from the potential benefits of DLT, such as continuous trading and cost savings, to the fundamental importance of liquidity, capital preservation, and credit stability.
- Learn how Moody’s assesses tokenized MMFs, including technology and blockchain risks, and understand the differences between recent transactions.
Speakers
Giselle Lai
Director, Digital Assets Strategist
Fidelity International
Vincent Gusdorf
Executive Director – Digital Economy
Moody's Ratings
Mehdi Ababou
Senior Vice President
Moody's Ratings
Cristiano Ventricelli
Vice President
Moody's Ratings
Jessie Hong
Assistant Vice President - Ratings
Moody's Ratings
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Giselle Lai is a Director, Digital Assets Strategist at Fidelity International, where she has been instrumental in shaping and executing the firm’s digital assets strategy, spanning crypto investment solutions to tokenisation initiatives, since 2022. She leads client engagement across digital assets and supports the distribution of Fidelity’s digital asset capabilities. She also contributes to thought leadership, educational initiatives, and research in the digital assets space.
Giselle has been actively involved in the digital assets ecosystem since 2018, driven by a strong interest in emerging technologies and their implications for capital markets. She holds a Master of Science in Blockchain and Digital Currency from the University of Nicosia and is an active member of the Web3 Women association. In addition, she has served as a guest lecturer for digital assets courses at universities in Hong Kong and Taiwan.
Prior to her current role, Giselle was an Associate Investment Director in the Asian Fixed Income team, specialising in Asian Investment Grade and China bonds markets. She was responsible for product strategy and franchise management for the Asian fixed income strategies, leading investor communications, client engagement, and portfolio manager support across institutional and intermediary channels.
Giselle joined Fidelity as a graduate associate and gained experience across various areas, including Multi Asset Investment Directing, Institutional Business & Consultant Relations, Digital Solutions, and Intermediary Sales in both Hong Kong and Singapore.
She holds a BSc degree in Economics and Finance from the University of Hong Kong and is a CFA and CAIA charterholder.
Vincent Gusdorf is an Executive Director in the DeFi and Digital Assets team (DFDA), leading Moody’s blockchain technology research. Before joining the DFDA team, Vincent worked for the Innovation and Data Science team, managing several machine learning projects and defining the innovation roadmap.
Vincent worked as a credit analyst for 16 years and covered investment grade and high-yield corporates. He also contributed to developing Moody’s cyber risk expertise in Europe. Before joining Moody’s, Vincent worked at Standard & Poor’s, Exane BNP Paribas, and Ernst and Young.
Vincent is a CFA charter holder and holds a Master of Finance from Sciences Po Paris and a Master of Law from Université Paris II Panthéon-Assas. He is a self-trained programmer and developed his blockchain and machine learning expertise by completing multiple online data science and cloud certifications. Vincent is also a Certified ScrumMaster and a PMI Agile Certified Practitioner (PMI-ACP).
Mehdi Ababou is a Senior Vice President – Senior Credit Officer in the Structured Finance Group at Moody’s in Paris. Mehdi has extensive experience rating structured finance transactions across Europe and the Middle East, covering a wide range of asset classes from consumer ABS to future flow deals. He currently leads the analysis of corporate securitisation transactions and is also responsible for digital finance transactions, working closely with the DeFi team.
Before joining Moody’s, Mehdi worked in structured finance teams at banks in London and Paris.
Mehdi holds a degree in Economics and Business Administration from Paris I – Sorbonne University and a Banking and Finance degree from Paris V – Descartes University.
Cristiano serves as Vice President of the DeFi & Digital Assets team at Moody's Ratings. His role entails the comprehensive analysis of emerging digital financial products and services, as well as overseeing the digital transition of traditional financial entities. He possesses a solid background in risk management, acquired through his tenure in various consulting and banking institutions. Before joining Moody's, Cristiano worked two years in the decentralized finance space, thereby solidifying his proficiency in the digital finance domain.
Jessie Hong is an Assistant Vice President - Ratings with the Financial Institutions Group at Moody’s Investors Service Hong Kong Limited. Jessie is covering a portfolio of non-bank financial institutions in Greater China.
Jessie joined Moody’s in 2018 as an Associate Analyst. Prior to joining Moody’s, Jessie worked as an equity research associate covering Chinese financial institutions at Nomura, and was a senior audit associate at PricewaterhouseCoopers.
Jessie holds a Bachelor of Business Administration in Accounting from the Chinese University of Hong Kong. She is also a CPA.