Key takeaways:
- AI and digital money, tokenized deposits and stablecoins are advancing, delivering value across treasury operations and liquidity flows, as seen at EuroFinance 2026.
- Treasurers are turning innovation into action, investing in real-time liquidity management and new payment capabilities while maintaining secure, reliable cash management foundations.
- The right banking partner can connect innovation with global execution, combining local expertise and an international network to support clients consistently across global markets and varying timezones.
- In a fast-changing environment, treasurers continue to focus on cash management traditional challenges around treasury structure, working capital and liquidity optimisation, while closely following the latest tech innovations.
The recent EuroFinance International Treasury Management forum in Barcelona brought together corporate treasurers, banks and technology providers to exchange insights on the forces reshaping the treasury function. Over three days, treasury innovation was firmly in the spotlight across the different streams – from how AI impacts liquidity optimisation, payments and operational resilience in treasury to the increased use of tokenized deposits and stablecoins.
Putting treasury transformation into practice
Liquidity management and corporate finance & funding increased in prominence on this year’s agenda, while working capital & trade, and risk & financial markets saw a smaller focus. The major change was payments and digital money, which moved up the agenda, featuring on a par with treasury strategy and organisation, with discussions across stablecoins, tokenized deposits, blockchain and digital wallets, as well as the continuing focus on real-time and cross-border payments. Debates looked at use cases and how tokenized deposits and stablecoins can add meaningful value to treasury flows, with clients looking for financial partners that can translate these developments into practical, scalable solutions.
Discussions also centred on emerging use cases for digital-currency collection, tokenized payments and tokenized deposits, and the resulting questions on interoperability and cost. The use of stablecoins for 24/5 liquidity and possible future settlement through a bank was also discussed, alongside stablecoin settlement for cross-border payroll and internal transfers.
Attendees looked to specific strategic developments in this arena, such as Wero, the new European-backed payment solution, spearheaded by a consortium of banks including BNP Paribas*, and business models requiring a payment service provider licence.
❝ Financial partners have a key role in connecting technological innovation with corporate treasurers’ strategic priorities, while supporting them in their day-to-day operational realities across the cash management spectrum. ❞
Turning treasury innovation into action
At EuroFinance 2026, the AI debate showed that technologies are increasingly integrated into business processes, with the conversation moving towards concrete use cases and real business value, as technologies move closer to operational reality, although use remains selective. The focus is on the concrete value AI can bring to treasury teams as it increasingly enables the function to move from reporting towards execution.
Discussions focused on AI use cases, with clients particularly looking at this technology for cash forecasting and treasury workflows and payments. Other usages include AI to analyse bank fees and FX spreads, detect fraud and perform reconciliation, and analyse market data.
❝ Innovation and client focus are deeply embedded in our identity at BNP Paribas. Instead of starting with a product and looking for somewhere to apply it, our Innovation Lab and co-creation with clients start with the client’s own constraints and pain points. Innovation, after all, is not always about finding more space. Sometimes it begins by discovering – together – how many directions were already possible. ❞
Where treasury transformation meets reality
EuroFinance 2026 was also the opportunity to explore the 2026-2027 Transformation Innovation guide developed with TMI, covering topics from tokenization and agentic AI to the T+1 transition and working capital. The publication’s case studies offer a deep dive into the latest innovations in the industry and provide insights into how the treasury function is rapidly adapting to the changing landscape.
Working capital for the next liquidity gains
Working capital emerged as an increasingly important area of focus at EuroFinance 2026. As corporates continue to mature their cash management structures, attention is expanding beyond traditional liquidity optimisation towards unlocking cash tied up in the operating cycle.
Discussions highlighted opportunities to improve cash conversion through more effective receivable management, payment terms, inventory management and process automation. With an estimated EUR 1.86 trillion in potentially releasable working capital – according to PwC’s Working Capital Study 2025/2026, the focus is increasingly on operational improvements, supported where appropriate by financing solutions.
A banking partner for the next phase of treasury transformation
Cross-border treasury solutions were a focus at EuroFinance, as multinational companies look for banking partners that connect payments, liquidity and foreign exchange across the Gulf, Europe, Asia and the Americas. A strong banking partner with local regulatory knowledge and a truly global approach is key for treasurers: bringing all regional expertise into one conversation can help organisations simplify complex treasury structures and operate more effectively across markets and time zones.
On the back of strong tech platforms and its global network across Europe, Middle East, Asia and the Americas, BNP Paribas offers clients a connected conversation wherever they operate.
* BNP Paribas is one of 18 banks participating in the European Payments Initiative to develop a digital wallet. They recently launched the Wero digital wallet solution, which is now being rolled out with major merchant clients.
Focus on real-time liquidity management
As tokenized deposits, stablecoins and digital assets gain momentum in transaction banking, companies are exploring new ways to move, manage and optimise liquidity across entities, regions and time zones, opening up new possibilities. In his video, Wim Grosemans dives into real-time liquidity management. He explains how tokenization could transform corporate treasury, shifting the focus from payment processing to real-time, seamless liquidity management, and how smart contracts could automate treasury processes and improve visibility over cash flows. In this new environment, interoperability between traditional and tokenized infrastructures will be key.
FAQ
EuroFinance International Treasury Management is a leading global forum for corporate treasurers, banks and technology providers. The event brings treasury professionals together to examine the operational, technological and strategic developments shaping the function. EuroFinance 2026 took place in Barcelona from 16 to 18 September 2026.
The main takeaways from EuroFinance 2026 were that AI in treasury and digital money is progressing from exploration towards selective, practical use cases that can deliver tangible value; treasurers are pursuing transformation while looking to working capital for the next liquidity gains; and global banking partners like BNP Paribas have a key role in turning innovation into secure, scalable solutions across markets. Discussions also highlighted tokenized deposits, stablecoins, Wero and cross-border treasury connectivity.
Wero is a European digital payment solution developed by the European Payments Initiative, a consortium backed by major European banks, including BNP Paribas. Designed to offer a simple, secure and instant way to pay directly from a bank account, Wero is being introduced across Europe for person-to-person payments and is expected to expand to online, in-store and other payment use cases.