Fungibility and Interoperability in the Digital Money Ecosystem

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In this joint webinar co-hosted by the Digital Euro Association and the Digital Pound Foundation, as part of a series of partnership collaborations, we explore the concepts of fungibility and interoperability, how they interrelate, and why they are important considerations for the future of new forms of digital money in any jurisdiction.

Fungibility is not something that is often considered in depth in discussions of digital money – yet it’s fundamental to how our systems of money work today, and to our ability to transact easily, seamlessly and transparently between existing public (i.e. cash and central bank reserves) and private (i.e. commercial bank) money. It’s so fundamental, in fact, that most people don’t even consider or question how this system works at present.

Watch our panelists dive into the following questions, amongst others:

  • What is fungibility and why does it matter when we consider the relationship between public and private forms of money? (i.e. CBDCs and stablecoins)
  • Which fungibility considerations are there for a digital Euro or a digital Pound?
  • How can a jurisdiction’s legal and regulatory framework support fungibility between CBDC and stablecoins?
  • What’s the difference between fungibility and interoperability?
  • How can interoperability support fungibility, to create a healthy and diverse ecosystem for new forms of digital money?

Participants of the webinar

  • Jonas Gross (Chairman, Digital Euro Association)
  • Diego Ballon-Ossio (Senior Associate, Clifford Chance)
  • Ousmene Mandeng (Senior Advisor, Blockchain and Multiparty Systems, Accenture)
  • Martin Hargreaves (Chief Product Officer, Quant)


  • Jannah Patchay (Policy Lead and Originating Member, Digital Pound Foundation)

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