Capital & Code, the Frankfurt conference on stablecoins and tokenized finance

Capital & Code grew out of a stablecoin event: its own site says the organizers came back "bigger and bolder" after the sold-out Stablecoin Day of the year before. The conference calls itself strictly merit-based and community-first, with no sales pitches and no commercial booths. Speakers are picked for what they have to say, and companies cannot buy a stand.

The host is AllUnity, a Frankfurt company that describes itself as a regulated e-money institute building Europe's digital payments infrastructure for instant cross-border payments, digital asset markets and liquidity flows. DWS, Flow Traders and Galaxy established it, and it issues the MiCAR-compliant stablecoins EURAU, CHFAU and SEKAU. The AllUnity page explains its BaFin license and how EURAU works. Tickets are sold on Eventbrite, where Web3 Network, one of the conference partners, is named as organizer.

The 2026 edition takes place on Tuesday, October 20, 2026, from 8:30 am to 5:30 pm at SPARK Europe, Junghofstraße 16, in the center of Frankfurt am Main, according to the Eventbrite listing. The conference site plans for 400 participants, 14 sessions and 5 formats: keynotes, panel discussions, presentations, masterclasses and workshops. Sessions run on two stages, the Mainstage and a Deep Dive Stage.

The preliminary agenda opens at 9 am with a keynote by AllUnity CEO Alexander Höptner on the role of stablecoins in Europe's financial future, followed by eight panels until the closing remarks at 4:15 pm. After drinks start at 4:30 pm, powered by Utila. From 5 pm, Allfunds and Solana hold a side event, the Project Harmonia Frankfurt salon, with its own registration.

A General Admission ticket costs 199 euros including VAT and covers both stages, the networking area, lunch and refreshments. Journalists can apply for a Media Pass, which adds a press corner and the VIP area. Both are on the ticket section of the conference site.

Capital & Code wants the whole financial value chain in one room: banks and corporate treasuries, and next to them the users of financial services, such as DAX-listed companies, AI firms and e-commerce businesses. The site sorts its audience into four groups:

• Banking & Treasury: banking executives, corporate treasurers and financial strategists who manage liquidity and risk, with a focus on asset management, liquidity forecasting and automated corporate banking.
• Digital Assets & Tokenization: institutional investors, asset managers and Web3 builders who work on tokenized real-world assets and digital portfolios.
• Payments & Commerce: merchants, fintechs and payment infrastructure providers, with embedded finance and checkout on the program.
• AI & Agentic Payments: people who build or buy payments that software agents start on behalf of a company or a customer.

Classic finance sets the tone: the first panels belong to the Deutsche Bundesbank, J.P. Morgan, Standard Chartered, KfW, Franklin Templeton and Union Investment, and crypto firms sit next to them on the same stage.

The first panel asks who will power Europe's digital economy: public money or private money. Public money is central bank money, today cash and the reserves banks hold at the central bank, and in future perhaps the digital euro the Eurosystem is preparing. Private money is what banks and other firms issue: deposits, tokenized deposits and stablecoins. Dr. Alexandra Hachmeister, who leads the digital euro work at the Deutsche Bundesbank, debates it with J.P. Morgan, Schwarz Digits and Ubyx.

In the EU, a stablecoin that tracks one currency is an e-money token under MiCA, Regulation (EU) 2023/1114. Only a credit institution or an e-money institution may issue one, and holders can redeem it at par. MiCAR explained covers the rulebook, euro stablecoins under MiCA compares EURAU with other euro tokens, and stablecoin vs CBDC sets out how they differ from a digital euro. Ubyx, founded by former Citi executive Tony McLaughlin, builds a clearing system for stablecoins and tokenized deposits, so that a bank or fintech account can accept digital money from many issuers.

Two panels deal with funds. A tokenized fund records its shares on a blockchain, so a share can move between holders the way a crypto asset moves, while the fund stays regulated like its paper twin. Money market funds invest in short-dated government debt, and together with tokenized government bonds they make up most of the tokenized real-world assets counted so far, as the page on RWA tokenization reports from Boston Consulting Group figures. The page on tokenized money market funds names Franklin Templeton's BENJI and BlackRock's BUIDL as the two largest, and the knowledge hub answer on tokenized funds gives the basics.

At Capital & Code, Franklin Templeton, KfW and Union Investment discuss tokenized money market funds, treasury and settlement, with the savings banks association DSGV in the chair. A second panel, with Standard Chartered Luxembourg, the Solana Foundation, Allfunds Blockchain and Utila, looks at how funds are distributed and traded on institutional blockchain rails. For the wider picture, see onchain capital markets, tokenized securities and tokenization in Germany.

Before a bank can hold stablecoins for a client, it needs a custody setup: crypto custody is safekeeping of the private keys that control the coins, the same job a bank does for shares in a securities account. The crypto custody page reports that Deutsche Bank expects its own MiCA custody license with an offering that includes the stablecoins USDC, EURC and EURAU. At Capital & Code, Deutsche Bank's Dr. Ming Schuhmacher discusses use cases, custody and new payment rails with BitGo and Hercle. Institutional crypto and the knowledge hub answer on crypto custody go further.

Agentic payments are payments an AI agent starts on its own within limits a person or company has set, for example a purchasing agent that orders and pays for supplies. The afternoon panel on the future of payments brings together Mastercard, AllUnity, Worldline and PayPal, moderated by Dr. Jonas Gross of Etonec. Stablecoins and payments explains how a stablecoin payment works, and payments in Frankfurt and AI in finance in Frankfurt cover the local field.

Settlement is the moment securities and cash actually change hands after a trade. In the EU the standard cycle is two business days (T+2) and becomes one business day (T+1) from October 11, 2027, as the knowledge hub answer on clearing and settlement explains. A shorter cycle leaves fund administrators less time for each step, and that is the subject of the panel with Universal Investment and Helaba Invest, moderated by the German fund association BVI.

Corporate treasurers get two sessions. In one, the treasury head of Läderach, AllUnity and Seven Crossroads Advisory discuss stablecoins for treasury and cross-border payments. The other, "Trapped Money", asks how companies can free cash that sits in foreign accounts because moving it across borders is slow or expensive, with Zuba, Arf and LianLian. The knowledge hub answer on cross-border payments and cross-border payments in Europe give the background.

The speaker page lists 44 names, more than the 20 speakers the home page announced, and the agenda is marked as preliminary. The list below follows the speaker page, grouped by the kind of organization.

Central bank, public banks and associations

Banks

Asset managers and fund platforms

Payments, commerce and corporate users

Stablecoin, custody and tokenization firms

Law firms, advisers and media

The partner page names DWS, Flow Traders, Fidelity International, BitGo, Solana, Bullish, Cashlink, YPOG, Fieldfisher, Projective Group, Hercle, Utila and Web3 Network as partners, with AllUnity as host.

Media and network partners are Payment & Banking, Cointelegraph, the Digital Money Association, the Digital Euro Association, Finance Loop, Stablecoin Insider, Finanzplatz Frankfurt am Main, the Finfluencer Circle and BFRR.

Finance Loop is an official media partner of Capital & Code 2026, announced in the press release on the partnership. People from the Finance Loop network get 20 percent off tickets with the code FL20 on the discounted ticket link, and members who work on stablecoins, tokenized funds or payments meet at the conference itself.

The same topics run through other conferences Finance Loop partners with in Frankfurt: the Crypto Assets Conference of Frankfurt School and Deutsche Börse, and the Digital Euro Conference. Finance Loop's own meetups are on the events page and in the calendar below. Finance meeting points in Frankfurt lists Capital & Code among the city's conferences on payments and digital money, and Finanzplatz Frankfurt am Main is a media partner of the conference, like Finance Loop.

Lewis McLellan of OMFIF interviewed Tony McLaughlin when Ubyx published its white paper, in Tony McLaughlin's Ubyx: enabling stablecoin ubiquity. Will McCurdy reported for Decrypt that Barclays invested in Ubyx. Dr. Alexandra Hachmeister explains what banks need to prepare before the digital euro starts in episode 43 of the KPMG podcast Klardenker, hosted by Anne-Sophie Gógl: Was ist zu tun bis zum Start des digitalen Euro? (in German).

Capital & Code 2026 is on Tuesday, October 20, 2026, from 8:30 am to 5:30 pm at SPARK Europe, Junghofstraße 16, 60311 Frankfurt am Main. Tickets are on Eventbrite.

The opening keynote is by Alexander Höptner, CEO of AllUnity. Panelists include Dr. Alexandra Hachmeister of the Deutsche Bundesbank, Moritz Richter of J.P. Morgan, Tony McLaughlin of Ubyx, Christian Machts of Franklin Templeton, Christoph Hock of Union Investment, Dr. Ming Schuhmacher of Deutsche Bank, Dorothea Ysenburg of Mastercard and Eva-Maria Lindig of PayPal. The full list is in the speakers table above.

Partly. It is a finance conference about stablecoins, tokenized funds, custody and payments, so crypto firms such as BitGo, Bullish and the Solana Foundation take part. Most sessions, though, are led by central bank, bank, fund and treasury people, and the program starts from their questions about liquidity and settlement. Anyone looking for a broader crypto conference in Frankfurt finds the Crypto Assets Conference on the crypto in Frankfurt page.