Digital Money in 2026: Comparing Tokenized Deposits, Stablecoins, Money Market Funds and CBDCs

On 28 January 2026, a detailed overview distinguished tokenized bank deposits, tokenized money market funds, stablecoins, and central bank digital currencies as separate forms of digital money. Although these instruments frequently rely on similar blockchain or distributed ledger technology, they differ in issuer, legal framework, and primary use cases across payments, investment, and public monetary infrastructure. Understanding these distinctions is presented as essential for managing risk, designing regulation, and supporting the long-term development of digital finance.