Getting serious about tokenised money: Is there an emerging consensus?

Central banks around the world have now spent several years exploring the application of CBDCs, while the private sector has been steadily progressing on digital asset issuance and tokenisation. On the other hand, these instruments aren’t yet close to achieving scale, and the options for tokenised money have only proliferated, now including an even greater plethora of options: tokenised reserves, synthetic CBDCs, and tokenised money market funds. Are we any closer to being able to discern the future for tokenised money in different parts of the world?