Tag Archives: Tokenized deposits

In his Financial Times Free Lunch column, Martin Sandbu discusses our recent Barcelona report (with Stephen Cecchetti, Hélène Rey, and Xavier Vives). He writes: “The introduction is as good a guide to the main policy issues as I have seen. In particular, it helpfully directs our focus not so much to the technical possibilities digitisation brings as to what they mean for who is empowered and enriched by the systemic changes that can follow…” Martin continues: “It gives a nuanced...

CEPR eBook, with Stephen Cecchetti, Hélène Rey, Xavier Vives. 2 June 2026. PDF, HTML. Column: New Coins on the Block: Digital Currencies and the Financial System (with Stephen Cecchetti, Hélène Rey, and Xavier Vives). VoxEU, June 2, 2026. HTML. The crypto system is no longer a sideshow. Dollar stablecoins now put dollar claims into circulation well beyond the regulated US banking perimeter, and cryptoisation is beginning to transform the international monetary and financial system. This...

CEPR eBook, 12 November 2025. PDF, HTML.

CEPR eBook, 12 November 2025. PDF, HTML. VoxEU column: Frontiers of Digital Finance: A Global Perspective. HTML. VoxEU column: Frontiers of Digital Finance: Stablecoins, monetary ‘singleness’, tokenisation, and decentralised finance. HTML. My introduction to/summary of the book: The digitisation of payment, trading, and settlement systems is reshaping the financial architecture. New technologies are transforming how value is created, stored, transferred, and accounted for, altering the...