Stablecoins and Tokenized Money

Central Bank Digital Currency (CBDC)

A Central Bank Digital Currency, usually shortened to CBDC, is a digital form of central bank money issued by a country's monetary authority. CBDCs...

Central Bank Money

Central bank money is money that represents a direct liability of a central bank. It includes physical currency and certain balances held at the ce...

Commercial Bank Money

Commercial bank money is money held as deposits at commercial banks. The balance displayed in a normal bank account is generally a claim on the ban...

Depeg

A depeg occurs when an asset designed to track a reference value moves meaningfully away from that target. For example, a stablecoin intended to tr...

Deposit Token

A deposit token is a tokenized representation of a deposit liability issued by a commercial bank. The term is commonly used when discussing bank de...

Digital Money

Digital money is a broad term for monetary value that exists or is represented electronically. It can include conventional bank deposits as well as...

Fiat Backed Stablecoin

A fiat backed stablecoin is a stablecoin designed to maintain its value using reserves linked to a national currency. For a U.S. dollar stablecoin,...

Peg

A peg is the target value that a token or currency is designed to maintain relative to another asset. For example, a U.S. dollar stablecoin may aim...

Redemption at Par

Redemption at par means being able to exchange an asset for its stated reference value. For a stablecoin designed to represent one U.S. dollar, red...

Reserve Assets

Reserve assets are assets held to support the value or obligations of a financial product. For fiat backed stablecoins, reserves may include cash,...

Reserve Attestation

A reserve attestation is an independent examination intended to provide assurance about specified information relating to assets held in reserve at...

Settlement Asset

A settlement asset is the asset used to complete the payment side of a financial transaction. In tokenized markets, settlement assets could include...

Stablecoin

A stablecoin is a digital token designed to maintain a relatively stable value, usually by referencing another asset such as a national currency. M...

Stablecoin Issuer

A stablecoin issuer is the entity responsible for issuing a stablecoin and managing the obligations associated with it. Depending on the structure,...

Stablecoin Reserves

Stablecoin reserves are the assets held to support the obligations and value of a reserve backed stablecoin. Depending on the stablecoin, reserves...

Tokenized Deposit

A tokenized deposit is a digital representation of a bank deposit recorded or transferred using distributed ledger or blockchain based infrastructu...