The threat of the digital bank run
Chapter 1

The magic of the digital peg

Chapter 2

Global lifelines in times of crisis

Chapter 3

The invisible plumbing of global finance

Chapter 4

The battle for the future of money

YOUR GOAL

Master of How stablecoins rule global money

Ch 4 · The battle for the future of money
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nic Central Bank Digital Currencies

Jul 2

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nic Future of Money

Digital dollars, stable and true, / New global plumbing for me and you!

Jul 2

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nic Europe's MiCA framework sets the standard

Jul 2

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Central Bank Digital Currencies

nic Governments are developing their own digital currencies to compete directly with private stablecoins and maintain control over national money.

Jul 2

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Europe's MiCA framework sets the standard

nic The European Union's Markets in Crypto-Assets (MiCA) regulation is the world's first comprehensive legal code for stablecoins.

Jul 2

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Dollar Pipes
BETA

nic Build the pipes to understand how digital dollars became global financial plumbing.

Jul 2

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Fun Fact

China's digital yuan: China's central bank digital currency, the e-CNY, has already processed billions in transactions, even allowing tourists to pay using digital wallets.

Jul 2

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Glossary
stablecoin (noun)
A cryptocurrency whose value is pegged to that of another currency, commodity, or financial instrument. In 2025, the United States introduced the GENIUS Act to regulate these private digital assets.

Jul 2

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Gossip

Should governments ban private stablecoins?

Jul 2

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Quiz

Which country was among the first to launch a nationwide pilot of its Central Bank Digital Currency, the e-CNY?

Jul 2

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nic The threat of the digital bank run

Jul 2

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Quiz

Why are financial regulators concerned about a potential 'bank run' on a major stablecoin?

Jul 2

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nic Regulators step into the arena

Jul 2

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Quiz

What does 'liquidity' refer to when discussing stablecoin reserve assets?

Jul 2

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Quiz

What key requirement do modern regulations like MiCA place on stablecoin issuers?

Jul 2

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Quiz

What is a primary concern critics raise regarding the widespread use of government-issued CBDCs?

Jul 2

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Quiz

How does a digital bank run differ from a traditional physical bank run?

Jul 2

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Quiz

What is a Central Bank Digital Currency, or CBDC?

Jul 2

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Quiz

What is the name of the European Union's landmark regulatory framework for stablecoins enacted in 2024?

Jul 2