In an era of rapid digital transformation, family offices and institutional investors are facing a seismic shift in how they approach asset allocation, portfolio strategy, and innovation. At the forefront of this evolution is Sandra Ro, a trailblazer in blockchain, digital assets, and human-centric technology. As CEO of the Global Blockchain Business Council (GBBC)—the world’s largest Switzerland-based non-profit association dedicated to advancing blockchain—Sandra is actively shaping policy, standards, and the global dialogue on digital asset adoption.

As CEO of the Global Blockchain Business Council (GBBC) and a pioneer in digital assets, how are digital assets reshaping investment strategies for family offices today?

Digital assets and digitalization more broadly are transforming how family offices approach investment strategy. To keep it simple, I see three major areas of evolution:

1. Direct exposure to digital assets—from cryptocurrencies like bitcoin and ether to other types of assets such as NFTs and ETFs based on cryptoassets.

2. Tokenization of real-world assets—we’re just at the beginning of tokenizing real estate, gold, and other tangible assets. This space is poised to become a multi-trillion dollar opportunity.

3. Unlocking collateral—digitizing pledged assets for loans or trades can “unlock” capital tied up in traditional collateral systems. This could yield new returns for asset owners and dramatically improve liquidity and risk management. Some banks estimate that tokenizing collateral could double the size of today’s capital markets. Exciting times ahead.

You’ve been involved in global initiatives around blockchain and digital currencies. How do you define Web3, and what impact will it have on the financial ecosystem—especially for family offices?

I encourage people to refer to GBBC’s Global Standards Mapping Initiative (GSMI)—now in its 6th year—where we crowdsource definitions, use cases, and taxonomy: gbbc.io/taxonomy.

• Web1.0 was about reading information (early internet).

• Web2.0 was about reading and writing—communication, emails, and centralized platforms.

• Web3.0 envisions a decentralized internet, driven by blockchain, where users own their data and value can be exchanged peer-to-peer without intermediaries. It’s a vision for a free, open, borderless internet.

For family offices, this means:

• Investing in traditional Web2 companies evolving into Web3 (e.g., Facebook’s Libra/Diem attempt; Visa and X may succeed where others didn’t).

• Backing emerging Web3 projects, especially in decentralized finance (DeFi) and AI-driven crypto trading—2025 will be a big year for both.

• Reducing operational inefficiencies. New tools could help family offices dynamically manage portfolios, cut costs, and avoid margin calls.

How would you assess the current regulatory environment for digital assets? What key challenges should family offices be aware of?

Let’s start with the U.S.—many global regulators are watching closely. Since the 2024 U.S. election and the appointment of a White House AI and Crypto Advisor, the tone has shifted significantly toward pro-crypto. But let’s be clear: passing legislation—especially on issues like stablecoins—is still a long road. There are currently three competing draft bills in Congress.

GBBC sees low-hanging regulatory reforms that could support innovation. For example, we’ve advocated walking back SEC Staff Accounting Bulletin 121 (SAB 121), which imposed a burdensome capital treatment for digital assets.

GBBC is actively involved in regulatory development—we sit on the CFTC’s Global Markets Advisory Committee and have submitted recommendations on digital asset taxonomies, non-cash collateral, and more. We're also supporting efforts aligned with the White House Executive Order to promote U.S. leadership in blockchain by February 2025.

For family offices, clear regulations—especially from the U.S.—are critical for confidence and risk mitigation. But globally, we need regulatory harmonization to prevent contradictory rules across jurisdictions (e.g., U.S., Switzerland, UK, Singapore). Interoperability will unlock the full potential of digital assets.

How does GBBC support global standards and adoption of blockchain and digital assets among institutional investors?

GBBC is the trusted non-profit association for the blockchain and digital assets community, founded in 2017 in Davos. We now include over 500 institutional members and 284 ambassadors across 124 jurisdictions. We focus on:

• Financial services: crypto, DeFi, tokenization, taxation, smart contracts

• Global commerce and supply chains: AI, digital identity, traceability

• Commodities: energy, mining, ESG impact

Our mission is to educate world leaders, regulators, and C-suite executives—especially those not steeped in blockchain day-to-day. We support mapping of technical, business, and regulatory standards across industries.

GBBC initiatives include:

• Blockchain in Transportation Alliance (BITA) with FedEx, UPS, and Delta

• GBBC Capital Markets Standards

• Token Taxonomy Framework (TTF)

Everything we produce is open-source, open-access, and free—designed to be used responsibly by anyone.

How do you see innovations like DeFi shaping the future of financial services for family offices?

At CME Group, creating the Bitcoin pricing index and launching BTC futures seemed revolutionary—but to me, it was just applying traditional financial tools to a new asset class. That work laid the groundwork for today’s ETFs and futures on digital assets.

DeFi, however, is another leap. It’s not just about smart contracts—it’s about replacing legacy financial infrastructure with programmable, frictionless, 24/7 systems. It can streamline everything from payments to compliance and reduce counterparty risk.

For family offices, this opens up direct participation in financial ecosystems in a more agile, cost-effective way. But again, vetting and due diligence are critical—there are still too many bad actors in this space.

Final thoughts

As traditional finance continues to intersect with digital innovation, Sandra Ro emphasizes the importance of intentional engagement. For family offices, now is the time to move beyond curiosity and toward capability—building knowledge, partnerships, and strategies that reflect the digital realities ahead.

“Digital assets aren’t just a new category—they’re a catalyst for rethinking infrastructure, governance, and inclusion,” she says. “Those who thrive in this transition will be the ones who balance boldness with responsibility.”

From tokenized real estate to decentralized finance, the landscape is shifting fast. For forward-thinking investors, it’s not just about riding the wave—it’s about shaping it.