Stablecoins & CBDC

FTN011 - Central Bank Exploration of Tokenized Reserves (2025)

Reviews central bank research into tokenized reserves, focusing on how reserve tokenization could support settlement efficiency, interoperability, and new forms of digital money while raising policy and financial stability questions.

Topics: cbdc, tokenization, settlement, financial stability

More in Stablecoins & CBDC

A Stablecoin Thats Actually Stable - A Portfolio Optimi — Proposes a portfolio optimization approach to design a stablecoin with stronger price stability than single-asset pegs, emphasizing reser...
NBER - Stablecoins A Revolutionary Payment Technology with Financial Risks — Analyzes stablecoins as a potentially transformative payment technology, while emphasizing their vulnerabilities around runs, reserve qua...
Wharton - The Stablecoin Toolkit Part I — Academic primer outlining the core design choices, risks, and policy trade-offs of stablecoins, with emphasis on how reserve structures, ...
Will USDC Replace Legacy Payment Rails - USDC vs SWIFT (Dec 2025) — Analyzes whether USDC can displace legacy cross-border payment rails such as SWIFT, focusing on speed, cost, settlement efficiency, and t...