Stablecoins vs CBDCs: the Digital Money Race in the Social Networks

Giuseppe Gurrado and Donato Masciandaro

No 25254, BAFFI CAREFIN Working Papers from BAFFI CAREFIN, Centre for Applied Research on International Markets Banking Finance and Regulation, Universita' Bocconi, Milano, Italy

Abstract: In the ongoing race between new digital currencies, a crucial factor for success will be their relative ability to gain acceptance as a medium of exchange, shaping the demand for money. Focusing on the emerging competition between stablecoins and CBDCs, this analysis offers quantitative insights into which of the two is gaining more attention among different audiences, exploring both academic and public interest in recent years. The growth rates of academic publications on stablecoins and CBDCs, after alternating periods of predominance, now appear to converge, even though research on CBDCs remains higher in absolute terms. However, beyond academia, public attention confirms the possibility of stablecoins catching up. The observed cycles of attention for the two digital currencies highlight the importance of specific events, as well as the relevance of contextual and country-specific factors.

Keywords: Central Bank Digital Currencies; Cryptocurrencies; Stablecoin; Money Demand; Social Networks (search for similar items in EconPapers)
JEL-codes: B22 C91 E41 E42 E52 E58 (search for similar items in EconPapers)
Pages: 15
Date: 2025
New Economics Papers: this item is included in nep-mon
References: Add references at CitEc
Citations:

Downloads: (external link)
https://repec.unibocconi.it/baffic/baf/papers/cbafwp25254.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:baf:cbafwp:cbafwp25254

Access Statistics for this paper

More papers in BAFFI CAREFIN Working Papers from BAFFI CAREFIN, Centre for Applied Research on International Markets Banking Finance and Regulation, Universita' Bocconi, Milano, Italy Via Röntgen, 1 - 20136 Milano - Italy. Contact information at EDIRC.
Bibliographic data for series maintained by Michela Pozzi ().