  Digital money tokens have attracted the attention of financial institutions,
central banks, regulators, international associations and fintechs. Their
research and experimentation with digital money tokens has included creating
innovative technical and operational frameworks. In this paper, we present a
'money tree' which places this recent concept of digital money tokens into a
historical context by illustrating their evolution from more traditional forms
of money. We then identify key features of digital money tokens with options
and examples. We hope this paper will be of interest to the financial services
industry and we look forward to feedback.
