Latest Insights
Research-based perspectives on how technology, institutions and policy are reshaping money, banking and global finance.
Historical foundations and the evolution of monetary policy in a digital age.
Money & Monetary Systems
Tokenization of real-world assets and the future of digital ownership.
Digital Assets & Tokenization
Global payment rails and the future of cross-border financial infrastructure.
Payments & Infrastructure
An index of our independent research agenda on the future of money and finance.
Research Themes
Central bank digital currencies and the institutional architecture of digital money.
CBDCs & Public Digital Money
Disruptive innovation and the transformation of traditional banking models.
Banking & Financial Technology
Macroprudential policy and the governance of financial stability.
Regulation & Stability
The rise of stablecoins and the regulatory landscape of tokenized assets.
Stablecoins & Tokenized Money
Artificial intelligence and machine learning applications in financial analysis.
AI in Finance
Comparative analysis of financial systems across Japan, Mexico, and the Asia-Pacific.
Global Perspectives
Japan
A high-trust, bank-dense economy where cash holdings have risen even as digital payments spread. The Bank of Japan is piloting a digital yen without committing to issue one, making Japan a test of whether institutional caution is a cost or a design choice.
Asia-Pacific
The widest spread of approaches anywhere: China running the largest retail digital currency deployment to date, Singapore building regulated frameworks for tokenised finance, and an increasingly dense set of cross-border payment linkages emerging across the region.
Global Perspectives
The cross-cutting view: how standard-setters and central banks are working to bring tokenisation into the existing two-tier monetary system without eroding the properties that make money function — settlement finality, singleness, and coordination across borders.
Mexico & LATAM
Central-bank-built instant payment systems, deep remittance corridors and shallow banking penetration — conditions that make the region a natural site for monetary innovation, and the most exposed to currency substitution through dollar-denominated stablecoins.
Europe
The digital euro is framed less as a payments upgrade than as a question of monetary sovereignty: how much of the euro area's retail payment infrastructure should depend on providers based outside it.
North America
The United States has ruled out a retail central bank digital currency while legislating for privately issued stablecoins — the clearest live test of whether private money can carry public functions, with global spillovers given the dollar's dominance.
Research Agenda
Monetary Systems
Investigating the structural evolution of money in a digital age, focusing on the interplay between central bank digital currencies and decentralized systems.
Financial Technology
Analyzing the institutional impact of fintech innovations, including the integration of artificial intelligence and blockchain into traditional banking infrastructure.
Global Perspectives
Exploring the regional dynamics of financial stability and regulatory frameworks across Japan, Mexico, and the broader Asia-Pacific region.
