Currency in the Cloud

For centuries, national currencies were flags in every pocket. That monopoly is now under threat.

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Rise of Stablecoins

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Stablecoins in Action

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Central Banks Respond

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A Delicate Balance

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The New Geography of Money

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Sovereignty on the Line

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Read the full essay:

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Currency in the Cloud

For centuries, national currencies were flags in every pocket. That monopoly is now under threat.

Older Order

Rise of Stablecoins

Rise of Stablecoins

Stablecoins in Action

In Latin America and Africa, stablecoins substitute for failing currencies — offering citizens a shadow monetary system.

Central Banks Respond

Over 100 nations are exploring Central Bank Digital Currencies. The race is on.

A Delicate Balance

Move too slow, and private issuers entrench. Move too fast, and banks risk destabilization.

The New Geography of Money

A dollar token issued in Singapore can circulate as easily in Buenos Aires as in New York. Monetary power is now transnational.

Sovereignty on the Line

Read the full essay:

Currency in the Cloud

ARTIFICIAL OPINION