Digital Money & Tokenisation
Money is becoming programmable. City Agentic Finance Lab (CAFiL) examines which forms of digital money agents will use — and how tokenisation can serve the real economy.
What we explore
Stablecoins, tokenised deposits, the digital pound and digital euro, tokenised funds and other tokenised assets; which settlement assets AI agents will use, and why; and how on-chain and traditional financial data can be combined responsibly. The UK’s new cryptoasset regime applies from October 2027.
Questions we are asking
- Which forms of digital money will agents use for machine-speed payments?
- Tokenised deposits, stablecoins or central bank money: what keeps money “single” when agents move it?
- How will the digital euro and European payment initiatives affect London?
- Where does tokenisation cut costs for firms and the real economy?
What we produce
- Briefing paper (in preparation): “Singleness at machine speed: which money will agents use?”
- Working papers on the digital euro and European payments (in progress)
- Board explainers and student research