In Episode 5 of Payments Cannot Fail, David Watson, President & CEO of The Clearing House, joins Form3 CRO Mark Fieldhouse to explore how payment infrastructure is evolving from traditional payment rails towards a world of connected value. As tokenized deposits, stablecoins and other forms of digital money emerge, David shares his perspective on how the industry can innovate while preserving the trust, reliability and resilience at the heart of the financial system. The conversation covers real-time payments, interoperability, operational resilience, cybersecurity, fraud and AI — and what these developments mean for the future of payments.