The monograph reveals a wide range of issues that reveal monetary problems and incentives for the development of electronic money circulation, and also develops the concept of electronic money in a broad sense. An important feature was the multifaceted study of the nature of electronic money, including the contradictions of the modern concept of electronic money, which caused by the widespread use of legal fictions in relation to established economic categories. At the same time, the main attention is paid to the structure and properties of the electronic money circulation mechanism, the quality of operation of which is largely determined by the quality of institutions and infrastructure of the payment services market.