Managing the Crypto Future

With Alexander Bechtel

03 August 2026

Ian Simpson | 2 min read

While some financial institutions have only recently gotten serious about crypto and digital assets, others have had a clear plan – for a long time.

That is the case with asset management giant DWS. In this edition of RULEMATCH Spot On, Global Head of Digital Products Alexander Bechtel tells Ian Simpson about the firm’s 3-part strategy, its partnership with Flow Traders and Galaxy, its view on stablecoins – and perspectives for secondary markets in tokenized assets.

 

Show notes:

Show notes: 1:50 – Introducing Alex Bechtel

2:48 – The “driving forces” behind DWS’s move into crypto

4:24 – A three-part strategy

7:17 – The progression from crypto to tokenized assets

9:29 – The real “winners” in the future of digital assets

11:02 – MiCA and DWS’s crypto strategy

12:52 – The good thing about MiCA for stablecoins

13:46 – A German-issued Swiss stablecoin

15:44 – The end of MiCA grandfathering and the regulated market

16:53 – The “laggards” who are missing out on crypto and digital assets

17:31 – New roles for companies in the digital economy

19:02 – The future for MiCA institutions

20:06 – What traditional banks have lost

20:42 – The problem with crypto “concentration”

21:33 – The partnership behind AllUnity (Galaxy, DWS & Flow Traders)

23:49 – Dollar dominance among stablecoins – and what to do about it

26:09 – Putting EUR stablecoins on different blockchains

27:44 – The regulatory view on blockchains for stablecoins

29:41 – Potential competition from banks

31:18 – Why the word “euro stablecoin” is redundant

32:15 – Why tokenized deposits are really hard

33:55 – Disagreeing with Christine Lagarde

34:31 – The role of the central bank

36:08 – Driving forces behind tokenized money market funds

38:08 – A platform, not just a fund

40:19 – The missed potential of TMMFs

42:15 – What is still not in place for tokenized market infrastructure

43:44 – The “dirty” topic of AML for tokenized money market funds

46:45 – Use cases for TMMFs

47:57 – Intraday yield and TMMFs

48:42 – End-of-day pricing and secondary markets for TMMFs

50:32 – The changing face of capital markets

53:29 – Looking into the crystal ball

 

 

Follow on social media:

Alexander Bechtel

RULEMATCH X 

Ian Simpson LinkedIn

Ian Simpson X

 

Disclaimer: The information contained in this podcast about RULEMATCH AG (“RULEMATCH”) and any guest company is for general informational purposes only and should not be considered exhaustive. They do not imply any elements of a contractual relationship nor any offering.