News, data and analysis on tokenized assets, market design and digital economic systems.
Central bank liabilities on programmable ledgers: retail and wholesale digital currency, settlement in central bank money, and the projects testing both.
Its general manager argues stablecoins fail on singleness, interoperability and financial integrity, and that bank money on a programmable ledger passes the tests they fail.
The Eurosystem published the 61 members of the Appia contact group, the forum that will advise it on settling tokenized assets in central bank money.
The BIS says twenty-eight institutions and central banks moved around CHF800,000 of live tokenized deposits across borders, the first time the project has put real value at stake.
Bank of China settled the two largest transactions recorded on mBridge, the multi-central-bank digital currency platform, in June and July 2026.
The European Parliament approved its position on the digital euro regulation on 9 July 2026, following a committee vote in June.
Legal designation and a cash leg that was already someone's liability separate the wholesale settlement systems now carrying volume from the multi-jurisdiction platforms that handed themselves over or stayed prototypes.
What issued, what settled, what the supervisors changed, with the numbers behind it and a note on what the numbers do not show. One email, Thursday mornings.
Unsubscribe in one click.