Panel | FX Market Structure and Onchain Design

Thu, Apr 2, 2026, 12:00 AM

FX markets behave very differently depending on the currency pair. What does that mean for onchain design? In this panel, Martin Krung (Curve), Dr. Ivy Schuhmacher (Deutsche Bank), Denney Kwok (Mento), and Tesa Ho (Flashbots, Moderator) examine how market structure, liquidity, and volatility shape FX outcomes across traditional and onchain environments. The discussion covers: • Differences in liquidity and execution across currency pairs • How slippage, liquidity gaps, and risk transfer show up in practice • Performance of current onchain FX designs under real market conditions • What is required to support reliable payment and treasury flows onchain A closer look at what it takes to bring FX markets onchain without breaking market structure. — Stable Summit IV Cannes · 27-28 March ➣ Follow Stable Summit on X Link: https://x.com/stable_summit ➣ Follow Stable Summit on Linkedin Link: https://www.linkedin.com/company/stable-summit/ ➣ Listen to the Stable School Podcast Link: https://stableschool.org/podcast