Tokenized Money Reshapes Financial Infrastructure

Tokenized money encompasses central bank digital currencies, stablecoins, tokenized bank deposits and private platform currencies. By combining payment functions with collateral for financial contracts, blockchain-based instruments can automate contractual terms, reduce information frictions and improve funding and market liquidity. The shift could reshape financial infrastructure, but it also carries implications for monetary policy, cybersecurity and financial stability.

A 2025 study by Emre Ozdenoren and Kathy Yuan highlights how platforms including Amazon and Alibaba can connect transaction data with programmable money to improve financing decisions and support secondary markets. The research gives no aggregate market value or single deployment date. It argues that broader adoption will depend on regulators and institutions addressing cyber threats, liquidity pressures and vulnerabilities created by concentrated platform control.