According to CoinMeta, as reported by Coinpaper, bank stablecoins, tokenized deposits, and central bank digital currencies (CBDC) differ significantly in terms of issuer, support, settlement, risk, and accessibility. Bank stablecoins are typically tokens backed by private reserves, while tokenized deposits represent the digital version of amounts owed by commercial banks. Central bank digital currencies (CBDC) are direct liabilities of central banks. These differences affect their support, settlement, regulation, and risk profiles. Bank stablecoins are designed to track fiat currencies such as the US dollar or euro, and their stability relies on reserve backing and redemption mechanisms. Tokenized deposits represent commercial bank deposits recorded or transferred through blockchain or distributed ledger technology, with holders having claims against the banks rather than the individual stablecoin issuers. IMF describes tokenized deposits as bank liabilities held and traded using DLT. CBDC refers to central bank money in digital form, which is generally categorized into two types: the European Central Bank describes the digital euro as an electronic form of central bank money for everyday payments. BIS argues that central bank money can serve as a foundation of trust, whereas tokenized commercial bank money operates around it.