Innovations and the Layering of Money and Payments

2026

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This paper analyzes how innovations in money and payments are reshaping existing layered structures, with implications for financial stability and regulation.

* Explores the concept of layering in payment systems and its historical emergence.
* Assesses various innovations like CBDCs, stablecoins, and public blockchains in the context of layering.
* Discusses the policy challenges and the evolving role of central banks in shaping future payment architectures.

Tags: Layering, Money, Payments, Innovation, Regulation

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