Stablecoins, Tokenized Deposits, Tokenized MMF and CBDCs: Which Money Earns a Place in the Stack?

Stablecoins, tokenised deposits, tokenised MMFs and CBDCs are all racing to become the default form of institutional money, though none of them do the same job equally well. Four advocates, one per instrument get two minutes each to pitch to our moderator, who presses each on the trade-offs. Then the audience votes: what would you actually hold for payroll, for treasury, for cross-border? Come find out what counts as money when the answer depends on the job.