Money, peace, and the architecture of trust: reflections from Money Motion 2026

From peace and money to AI and digital assets, Mirela Ciobanu reports from Money Motion Zagreb on the ideas shaping Europe’s future payments and banking landscape.

This March kicked off on a positive note for me. What made it special was the opportunity to meet inspiring people and listen to captivating stories about courage, determination, and the passion to innovate.

All of this happened at Money Motion, held in Zagreb, Croatia. The event brought together more than 3,000 participants, around 900 companies, and over 50 speakers from more than 20 countries. For two days the venue became a meeting point for bankers, fintech founders, policymakers, and technologists discussing the future of finance.

But before diving into discussions about digital currencies, AI, and payments infrastructure, two historical figures in Zagreb left a lasting impression on me.

One is Josip Jelačić, whose statue dominates Zagreb’s central square. The monument itself carries a powerful story. During political upheavals it was removed, dismantled, and hidden from the public. Decades later it was restored and returned to the square as a symbol of national identity and unity. The second is Marija Jurić Zagorka, widely recognised as Croatia’s first professional female journalist. Zagorka was known for her fearless reporting, storytelling, and advocacy for education and social progress at a time when women rarely had a voice in public debate.

In many ways these stories reflect the spirit of the event. Like Zagorka, the fintech ecosystem thrives on sharing knowledge, asking difficult questions, and connecting people across industries. Like the Jelačić statue, financial systems sometimes go through periods of fragmentation or uncertainty. Yet over time they tend to rebuild themselves, often stronger and more resilient.

That idea of resilience also appeared in the opening remarks from Zoran Milanović, Croatia’s president, who emphasised a simple but powerful thought. For a country to prosper, it needs both peace and sound money. Without stability, economic growth becomes fragile. Without trust in financial systems, prosperity cannot last. In a way, the conversations throughout Money Motion revolved around this broader question. How do we build financial systems that are innovative, but also resilient enough to support economic growth in an increasingly complex world?

Three major themes stood out over the two days: payments sovereignty in Europe, the evolving role of digital assets, and the growing impact of artificial intelligence on banking and commerce.

Payments sovereignty in Europe: why the digital euro and resilient infrastructure matter

Payments infrastructure is often perceived as a purely technical matter. Yet several discussions at the conference highlighted that payments are increasingly becoming a geopolitical topic.

President Milanović opened the debate by touching on the delicate balance between innovation, security, and personal freedoms. While digital payments continue to expand, he stressed the importance of preserving access to cash and protecting citizens’ financial privacy. At the same time, financial systems must remain capable of preventing illicit activity such as terrorist financing.
This balance between privacy, security, and innovation is also central to Europe’s ongoing work on the Digital Euro. During a keynote session, Jürgen Schaaf, Adviser in the DG Market Infrastructure and Payments, European Central Bank (ECB) explained how the ECB views the evolution of money in the digital age. Today Europe operates under a two-tier monetary system where central bank money exists alongside commercial bank deposits. A digital euro would essentially extend central bank money into the digital world, functioning as a public digital payment option similar to cash.

According to the ECB, the objective is not to replace commercial banks or eliminate cash. Instead, the digital euro aims to preserve trust in European monetary infrastructure and ensure that citizens always have access to a safe form of public money, even as payments become increasingly digital.

Alongside the digital euro, the ECB is also exploring ways to modernise financial settlement infrastructure through initiatives such as Project Pontes and Project Appia. These initiatives focus on enabling financial markets to settle transactions using distributed ledger technology while maintaining the safety of central bank money.

Yet the discussion about European payments sovereignty goes beyond central bank projects. In a session on the future of payments, Hendrik Bourgeois, Senior Vice President of Public Policy and Government Affairs at Mastercard Europe, addressed the frequently repeated claim that global payment networks dominate Europe’s financial ecosystem. While large international schemes are indeed influential, he argued that Europe also hosts a vibrant landscape of local payment initiatives such as Bizum, BLIK, and Swish.

These initiatives demonstrate that innovation does not come from a single source. Instead, the European payments ecosystem continues to evolve through collaboration between banks, technology providers, and policymakers.

Listening to these discussions reminded me of a remark made by Ingenico’s newly appointed CEO, Floris de Kort, at another industry event earlier this year. He pointed out that payments are a critical national infrastructure, yet the industry often focuses mainly on innovation and cost efficiency rather than on geopolitical resilience.

In reality, payment devices, cloud infrastructure, and financial networks form a complex web that underpins global commerce. As geopolitical tensions increase, the ability of countries to maintain resilient payment infrastructure is becoming just as important as launching the next innovative fintech product.

Digital assets and the rise of the ‘multi-moneyverse’

Another major theme running through the conference was the evolving role of digital assets in the financial system. The debate around cryptocurrencies has often focused on volatility and speculation. Yet several speakers suggested that the real legacy of the crypto movement may lie elsewhere.

According to David G. W. Birch, the most important innovation coming out of the crypto ecosystem is the creation of digital financial rails. These programmable infrastructures allow value to move across networks in ways that were previously difficult or impossible within traditional financial systems.

The conversation about digital assets is also gradually moving beyond cryptocurrencies themselves. During a fireside discussion, payments adviser Nilixa Devlukia described the emerging financial landscape as a ‘multi moneyverse’. In this environment multiple forms of money coexist and interact with one another. These include traditional bank deposits, electronic money, stablecoins, tokenised deposits, and potentially central bank digital currencies. Rather than replacing existing systems, digital assets are gradually becoming part of a broader financial architecture.

The real challenge therefore lies not in choosing a single dominant form of money but in designing regulatory and technological frameworks that allow these different systems to operate safely together.

Interestingly, traditional banks are also starting to explore this space more actively.

During a panel titled ‘What Bank CEOs Have to Tell Us’, executives from institutions such as Erste Bank, OTP Bank, Raiffeisen Bank International, and Hrvatska Poštanska Banka discussed how digital assets are increasingly entering mainstream banking conversations. While the European approach to cryptocurrencies remains cautious compared with the US, several banks acknowledged that technologies such as tokenisation and blockchain may eventually play an important role in financial markets. Some institutions are already preparing for pilot projects related to digital assets or exploring how stablecoins might support certain types of financial transactions.

The overall tone was pragmatic rather than revolutionary. Banks are not rushing headfirst into the crypto ecosystem, but they are paying attention.

AI in banking and ecommerce: the rise of agentic commerce

The third major theme dominating discussions at Money Motion was artificial intelligence. AI is already reshaping financial services, but several panels suggested that its impact may soon extend far beyond internal banking processes.

One of the most intriguing concepts discussed during the conference was agentic commerce. In simple terms, this refers to a world where software agents can make purchasing decisions and execute transactions on behalf of humans. A panel featuring executives from Mastercard and Unzer explored what would be required to make this vision a reality.

One critical element is tokenisation. Payment credentials must be securely represented in digital form so that AI agents can interact with payment systems safely. Other building blocks include delegated authority mechanisms that allow consumers to authorise agents to act on their behalf, as well as new standards for verifying intent and managing liability when automated systems initiate transactions. This raises fascinating questions about the future of commerce. If machines begin interacting directly with merchants and marketplaces, the structure of online shopping could change dramatically.

At the same time, banks are also grappling with how AI should be deployed within their own organisations. Executives from institutions such as Raiffeisen Bank International and NLB Group acknowledged that banks are still at an early stage in their AI journeys. Regulatory requirements, governance frameworks, and concerns around data security make rapid experimentation difficult.

However, the consensus was that AI adoption is inevitable. The most successful institutions will be those that integrate AI gradually into existing processes while ensuring strong oversight and data governance. And people participating.

As one panellist remarked, ‘everyone should be involved by day one to dispel any fears they might have in AI, cause in the end AI may not replace people entirely, but people who understand AI will likely replace those who do not.’

Final reflections

Looking back on the two days spent in Zagreb, what stands out most is the sense that the financial system is entering a new phase of evolution. Digital currencies are emerging alongside traditional money. Artificial intelligence is beginning to transform how commerce operates. And governments are increasingly recognising payments infrastructure as a strategic national asset.
Yet beyond all the technical discussions, the human dimension remains just as important.

Stories like those of Josip Jelačić and Marija Jurić Zagorka remind us that progress is rarely linear. Institutions and systems sometimes fragment or face setbacks, but they can also rebuild and evolve when supported by strong values and a commitment to truth and knowledge.

Reflecting on my time at Money Motion, I feel grateful to have been invited to such a vibrant gathering of thinkers and innovators. It was also a reminder that I am fortunate to live in a part of the world where peace currently prevails and where financial systems, whether through cash or digital payments, continue to function reliably.

Equally important is the fact that Europe remains an open space for debate and collaboration. Events like Money Motion show that the financial industry is still willing to ask difficult questions and explore new ideas.

For that reason alone, gatherings like this are worth attending.

Thank you to the Money Motion team for welcoming The Paypers and for organising such an engaging event. Congratulations on an excellent conference, and hopefully we will meet again next year.

About author

Mirela Ciobanu is Lead Editor at The Paypers, bridging the knowledge gap between TradFi and DeFi. With a keen eye for industry trends, she is constantly on the lookout for the latest developments in crypto and blockchain.

Closely in contact with subject matter experts in the digital assets space, Mirela amplifies your voice through compelling interviews, webinars, reports, and articles. She aims to deliver informative and educational insights that help create the Web3 ecosystem. To share more ideas and get inspired, connect with Mirela on LinkedIn or reach out via email at mirelac@thepaypers.com.