Central bank digital currencies, stablecoins, and decentralised crypto are all “digital money”, but they sit at very different points on risk, privacy, and control. This tool lays them side by side across twelve dimensions so you can see exactly where they diverge.
How it works
The tool uses a structured reference matrix built from the defining properties of each asset class. The key axis is who stands behind the money:
- A CBDC is a direct liability of the central bank — lowest counterparty risk, immediate legal finality, but designed for traceability and issuer control.
- A stablecoin is a private issuer’s promise to hold a fiat peg using reserves — strong global rails, but exposed to de-peg and reserve risk and issuer freeze powers.
- Decentralised crypto has no issuer — no counterparty risk and strong censorship resistance, but full market volatility.
Each of the twelve rows compares the assets on a single dimension, so you can focus on whatever matters for your use case.
Notes and caveats
These are generalisations. A specific instrument can break the pattern: some CBDC designs offer more privacy, some stablecoins share reserve yield, and some chains finalise far faster than the proof-of-work norm. Use the matrix to frame the trade-offs, then confirm the details of any specific CBDC, stablecoin, or network against its primary documentation. This is not financial advice.