In this episode, Paolo Sironi speaks with Selim Yazıci and Michael Salmony, authors of “Tokenization of Money; from fiat currencies to stable coins”. They deliver a comprehensive, multi-perspective analysis of tokenised money by assembling leading insights from central banks, commercial banks, fintechs, academics, regulators, platform builders and service providers across all major geographies in a rare combination of academic rigour and highly practical, immediately applicable guidance for financial professionals. Selim and Michael explore why a new form of money is needed and examines the economics of tokenisation from tokenised deposits and securities to both liquid and illiquid instruments, transforming not only payments but the broader asset economy. In the conversaton, they provide a precise comparison of the different types of tokenised money: CBDCs in all their forms, commercial bank deposit tokens, and stablecoins, together with their implications for monetary stability. Will  tokenised money displace traditional financial infrastructure? What are the geopolitical risks of digital monetary fragmentation? Have stablecoins strayed from their original decentralised principles? All key questions are discussed as wholesale tokenised corridors take shape, corporate treasurers adopt stablecoins for liquidity, and regulatory frameworks crystallise around the word.