Tokenisation will either strengthen or fragment the financial system depending on policy decisions on money, market infrastructure and legal frameworks, Tobias Adrian said. Moving financial assets and liabilities to a shared ledger compresses execution, clearing and settlement into software-run simultaneous processing, he said. The shift could concentrate risk in platforms, code and market infrastructure providers rather than traditional intermediaries. The IMF report cited tokenised deposits, stablecoins and tokenised central bank reserves.

Tesla has delayed plans to unveil its next-generation Roadster again, pushing the schedule to after August as development linked to SpaceX thruster technology takes longer than expected. The company is also pursuing sensor reliability, including a patent for a camera system that cleans its own lens. Debate continues over the safety of unsupervised driving and compensation for self-driving accidents, as rivals such as BYD, XPeng and Rivian accelerate development and responsibility frameworks.