March was a full month for the Elwood team, with back-to-back events at FIA Boca and DAS NYC. Both gave us the chance to meet clients, speak with market participants, and better understand how the digital asset space is moving.

Here is what we took away from each event.

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FIA Boca 2025: March 9 to 12

FIA Boca brought together clearing houses, brokers, service providers and trading firms. This year, digital assets were part of nearly every conversation.

More institutions are thinking seriously about where crypto fits into their business, whether through trading, clearing or infrastructure.

A lot of people also talked about the need for trade lifecycle systems that cover everything in one place. That includes trading, risk management and reconciliation. It’s evident that some institutions are moving past the research phase and starting to plan more directly. They are looking for tools that apply the same structure and control they expect in traditional markets.

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Digital Asset Summit (DAS) NYC: March 18 to 20

DAS NYC brought in a wide mix of attendees, from large banks and hedge funds to newer crypto-native groups. The energy this year felt more focused. People were not just there to listen. Many came with plans and questions.

Elwood CEO Chris Lawn joined a panel on crypto market structure. The group talked about what is working, what still needs to improve and what firms need to build with confidence. That panel sparked plenty of conversations during the rest of the event.

Lending came up a lot, especially among custodians and capital providers getting back into the space. Stablecoins were another common topic. They are being looked at not just for payments, but also for things like liquidity and treasury management.

Several people asked how Elwood handles real-time risk management and how we bring blockchain data into workflows that also include traditional assets.

US regulation came up too. While nothing is settled, people said the tone feels like it is shifting. Tokenised collateral also got attention. It is being looked at as a way to use capital more effectively and improve how margin is handled. A number of groups said they were starting to dig into this.

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What We Heard

Across both events, a few themes kept coming up.

Institutions are returning to digital assets

Banks, asset managers and funds are spending time and money to understand the space and figure out how to move forward.

‍People want full trade lifecycle tools

Teams want platforms that bring execution, reconciliation, risk management and reporting together instead of juggling different systems.

‍Stablecoins are being used in new ways

They are being looked at for more than payments, including internal funding, balance sheet planning and managing cash flows.

Everyone is watching regulation

In the US, people want more certainty. MiCA in Europe was mentioned often as a framework that provides more structure and guidance.

Digital assets are part of broader financial conversations

Tokenised bonds, ETFs and real-world assets are being discussed alongside traditional products rather than off to the side.

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What Comes Next

Both events showed that institutions are moving with purpose. This is not about hype. People are asking thoughtful questions and making plans around structure, operations and long-term goals.

We look forward to continuing the conversations we had this month and working with teams that are serious about building in this space.

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Disclaimer

This material is intended only for professional clients as defined by the UK Financial Conduct Authority (FCA) and is not directed at retail clients. It is for informational purposes only and does not constitute financial or investment advice. It should not be regarded as an offer or a request to buy or sell any investments or services referred to in this material. Digital assets carry risk, including price volatility and regulatory change. Institutions should obtain independent advice before making any investment decisions.

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