Will stablecoins be insured like bank deposits?

No, even regulated stablecoins are unlikely to be insured or have direct access to central bank lending facilities.

How might CBDCs like China's e-CNY impact geopolitics?

CBDCs can be used to influence consumption and potentially challenge the dominance of existing reserve currencies like the US dollar.

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Future Money: Stablecoins, CBDCs, or Deposit Tokens?

Q: What are the main types of digital money expected in 2026?

The main types are stablecoins, central bank digital currencies (CBDCs), and deposit tokens.

6 Jan

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Summary

Stablecoins face challenges beyond regulation and trust.
CBDCs and deposit tokens may use closed networks for security.
Digital currencies could reshape geopolitics and superpower rivalries.

Future Money: Stablecoins, CBDCs, or Deposit Tokens?

The financial landscape of 2026 is set for a significant evolution with stablecoins, central bank digital currencies (CBDCs), and deposit tokens vying for dominance. Stablecoins, having experienced a surge in 2025 following regulatory clarity, still grapple with fundamental questions about their long-term stability and trustworthiness, as they lack deposit insurance and direct access to central bank liquidity.

Alternative digital currency forms are emerging. The Trump administration's stance against a US CBDC contrasts with the progress of China's e-CNY and the anticipated digital euro by 2029. Meanwhile, banks are exploring tokenized deposits to retain customers amidst concerns about stablecoins offering interest indirectly. These innovations signal a potential shift towards more controlled, closed-network systems for CBDCs and deposit tokens.