Future of Money

History accelerates after a crisis, and the 2020’s will be the decade in which the concept of money is redefined. The GeoEconomics Center investigates the rise of digital currencies and reevaluates the financial institutions that lead our global system.

Trackers Analysis Events

Race for the future of money is on

The future of money is up for grabs. Digital currencies are transforming the global payments landscape, reshaping monetary policy, and accelerating changes in global economic power. These shifts have enormous implications for how we all live our lives and the role of the dollar as the world’s reserve currency. Our events and research are animated by what the future of money looks like, and how global financial structures will evolve to address technological advances in the world of money and payments.

Featured Trackers

Central Bank Digital Currency Tracker

Our flagship Central Bank Digital Currency (CBDC) Tracker takes you inside the rapid evolution of money all over the world. The interactive database now features over 130 countries— triple the number of countries we first identified as being active in CBDC development in 2020.

Cryptocurrency Regulation Tracker

Cryptocurrencies may significantly alter financial structures as they exist today and transform the next generation of money and payments. Our interactive database analyzes cryptocurrency regulations in 75 of the world’s largest economies.

Dollar Dominance Monitor

How secure is the dollar’s status as the world’s dominant reserve currency? The Dollar Dominance Monitor analyzes the strength of the dollar relative to other major currencies across the world and tracks the progress of BRICS members in creating an alternative financial infrastructure.

Spotlight: China

China continues to develop its domestic and cross-border payment systems as potential alternatives to the dollar-based financial system. These projects include its domestic CBDC, digital yuan or e-CNY, Project mBridge, and ross-Border Interbank Payment System.

The GeoEconomics Center tracks the latest innovations in these platforms and their implications for Western economic and national security policymakers.

Future of Money

Dispatches Mar 30, 2026

Inside Tehran’s toll booth

By Alisha Chhangani

Iran is using formal, semi‑formal, and informal channels, as well as entirely new systems, to avoid US sanctions and sell oil to China.
China Conflict
Future of Money

Econographics Jan 15, 2026

What to watch as China prepares its digital yuan for prime time

By Alisha Chhangani

The changes China is implementing around the e-CNY signal a more mature phase for the digital yuan—and an overall shift toward a much broader geopolitical ambition.
China Digital Currencies

Commentary & Analysis

Future of Money

Econographics Aug 24, 2026

Stablecoin regulation has outpaced global coordination. The G20 can help.

By Jai Massari

Three challenges stand out: recognizing issuers across borders, agreeing on common rules for stablecoin use, and making stablecoins truly fungible across jurisdictions.
Digital Currencies Digital Policy
Future of Money

Econographics Jul 31, 2026

The infrastructure for tokenized bank deposits is beginning to take shape

By Hung Tran

Tokenized bank deposits remain modest in scale and largely limited to fragmented, bank-specific networks. Yet recent pilots suggest that the infrastructure needed for cross-border use is beginning to emerge.
Digital Currencies Digital Policy
Future of Money

Econographics Jul 23, 2026

Kenya wants to monetize its data. But at what cost?

By Aadyaa Maddi, Karen Sowon, and Giulia Fanti

As data becomes a strategic resource, Kenya wants to cash in. But without stronger safeguards on consent, privacy, and valuation, its data strategy could become a cautionary tale.
Africa Digital Policy
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Featured Reports

Future of Money

Issue Brief Apr 1, 2026

Global payment systems are fragmenting. Here’s what the G20 can do.

By Greg Brownstein

Fragmentation is reshaping global payment systems, driven by technological change, regulatory divergence, market dynamics, and rising geopolitical tensions. While innovation have long-term benefits, the near-term risks to efficiency, inclusion, and financial stability are mounting, demanding a more implementation-focused G20 agenda.
Digital Currencies Economy & Business
Future of Money

Issue Brief Apr 10, 2024

Standards and interoperability: The future of the global financial system

By Ananya Kumar, Alisha Chhangani, Jennifer Lassiter, and Katherine Haar

Digital assets promise enhanced efficiency, inclusion, transparency, and choice to global payments. But to fulfill this promise, the international community must first develop interoperability standards.
Digital Currencies Economy & Business

Featured Videos

Flagship Convenings

IMF-World Bank Week

Join the Atlantic Council live in Bangkok, Thailand for a series of special events with finance ministers and central bank governors from around the globe during the annual meetings of the World Bank and International Monetary Fund.

Transatlantic Forum on GeoEconomics

This year, the Transatlantic Forum on GeoEconomics will in Miami just prior to the G20 Leaders’ Summit. The annual flagship convening is focused on issues at the nexus of economics, finance, foreign policy, and national security.

Featured events

Public Event Tue, July 28, 2026 • 1:00 pm ET

Financial Stability Board’s John Schindler on the prognosis for multilateralism
Economy & Business Financial Regulation G20
Public Event Wed, June 17, 2026 • 12:00 pm ET

The IMF’s Dan Katz on stablecoins, tokenization, and cross-border payments
Economy & Business
Public Event Tue, June 3, 2025 • 1:00 pm ET

A conversation with Rep. French Hill on stablecoins and the future of money
Digital Currencies Financial Regulation
Public Event Thu, February 6, 2025 • 2:30 pm ET

Navigating the future of payments with Christopher Waller
Digital Currencies Economy & Business Financial Regulation United States and Canada
See more

Our team and experts

Staff

Josh Lipsky

Vice President & Chair, International Economics

GeoEconomics Center

China Digital Currencies

Staff

Alisha Chhangani

Associate Director

GeoEconomics Center

Digital Currencies Digital Policy

Staff

Jack Muldoon

Program Assistant

GeoEconomics Center

Digital Currencies Digital Policy

Former staff

Ananya Kumar

Deputy Director, Future of Money

GeoEconomics Center

Arabic Digital Currencies

Fellow

Carole House

Nonresident Senior Fellow

GeoEconomics Center

Cybersecurity Digital Currencies

Fellow

JP Schnapper-Casteras

Nonresident Senior Fellow

GeoEconomics Center

Digital Currencies Digital Policy

Fellow

Nikhil Raghuveera

Nonresident Fellow

GeoEconomics Center

Digital Currencies Economy & Business

Fellow

Giulia Fanti

Nonresident Senior Fellow

GeoEconomics Center

Digital Currencies

Fellow

Daniel McDowell

Nonresident Senior Fellow

GeoEconomics Center

China Economy & Business

Fellow

Barbara C. Matthews

Nonresident Senior Fellow

GeoEconomics Center

Americas China

More Future of Money Content

Econographics

Aug 24, 2026

Stablecoin regulation has outpaced global coordination. The G20 can help.

By Jai Massari

Three challenges stand out: recognizing issuers across borders, agreeing on common rules for stablecoin use, and making stablecoins truly fungible across jurisdictions.

Digital Currencies Digital Policy

Econographics

Jul 31, 2026

The infrastructure for tokenized bank deposits is beginning to take shape

By Hung Tran

Tokenized bank deposits remain modest in scale and largely limited to fragmented, bank-specific networks. Yet recent pilots suggest that the infrastructure needed for cross-border use is beginning to emerge.

Digital Currencies Digital Policy

Econographics

Jul 23, 2026

Kenya wants to monetize its data. But at what cost?

By Aadyaa Maddi, Karen Sowon, and Giulia Fanti

As data becomes a strategic resource, Kenya wants to cash in. But without stronger safeguards on consent, privacy, and valuation, its data strategy could become a cautionary tale.

Africa Digital Policy

Econographics

Jun 12, 2026

As the US targets Brazil’s payment system, Europe should pay close attention 

By Alisha Chhangani

In its determination on Brazil’s trade practices, the USTR has zeroed in on the instant payment system Pix—raising alarms not only in Brasília but also in Brussels.

Brazil Digital Currencies

Econographics

May 20, 2026

The global push for local-currency cross-border payments is intensifying

By Hung Tran

More than one hundred countries now operate instant payment systems, and growing efforts to link them are reshaping how cross-border transactions get settled in local currencies.

Digital Currencies Dollar Dominance

Econographics

Feb 24, 2026

The European Central Bank’s next president may decide the fate of the digital euro

By Alisha Chhangani, Jacopo Pastorelli

The four frontrunners don't oppose the digital euro, but their positions differ on pace, framing, and the risks they're most concerned about.

Digital Currencies Economy & Business

Econographics

Jan 15, 2026

What to watch as China prepares its digital yuan for prime time

By Alisha Chhangani

The changes China is implementing around the e-CNY signal a more mature phase for the digital yuan—and an overall shift toward a much broader geopolitical ambition.

China Digital Currencies

Econographics

Aug 25, 2025

Everybody wants a stablecoin, even China

By Ananya Kumar

From Beijing’s perspective, a successful offshore yuan-denominated stablecoin could replace some existing yuan transactions, increase the purchases of offshore bonds, and even make them technologically more efficient.

China Digital Currencies

Econographics

Jul 10, 2025

The stablecoin race

By Hung Tran, Barbara C. Matthews

Each country’s agenda is motivated by questions about the sustainability of the dollar’s dominant global role.

Digital Currencies Economy & Business
Stablecoins

Econographics

Jul 8, 2025

Stablecoins are trending, but what frictions and risks are getting overlooked?

By Ashley Lannquist

Stablecoin usage is complex for consumers, and large-scale adoption could introduce new challenges for financial stability and regulatory oversight.

Digital Currencies Economy & Business

Econographics

Apr 21, 2025

Fast payments in action: Emerging lessons from Brazil and India

By Polina Kempinsky

These lessons are shaping a framework governments can use to evaluate their need for central bank-led immediate payment systems, their potential structure, organizational features, and the trade-offs involved.

Brazil Digital Currencies

Econographics

Mar 14, 2025

What is strategic about the new digital assets reserve?

By JP Schnapper-Casteras

To many on Wall Street and Main Street, this executive order on a strategic bitcoin reserve may still seem more like political maneuvering than sober monetary policy.

Digital Currencies Digital Policy

Econographics

Feb 12, 2025

Central bank digital currencies versus stablecoins: Divergent EU and US perspectives

By Barbara C. Matthews, Hung Tran

All policymakers agree on one point: both CBDCs and stablecoins will significantly impact the global role of the US dollar.

Digital Currencies Digital Policy

Econographics

Jan 28, 2025

The 2025 crypto policy landscape: Looming EU and US divergences?

By Hung Tran, Barbara C. Matthews

High level regulatory and policy alignment is possible. Divergences, heated rhetoric, and drama are inevitable.

Digital Currencies Economy & Business

Econographics

Jan 23, 2025

What is next for crypto regulation in the US?

By Ananya Kumar

What does success on the regulatory front actually look like? What does it mean for the rest of the world? We dive into the dozen bills under consideration in Congress and zoom in on the three big themes for crypto regulation in 2025.

Digital Currencies Digital Policy

At the intersection of economics, finance, and foreign policy, the GeoEconomics Center is a translation hub with the goal of helping shape a better global economic future.

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