The process of digitalization of money is often understood solely in terms of money’s dematerialization, inscribed in the longer process of money’s transformation into pure function. This paper problematizes this assumption by showing that digital money is more material than ever. The ostensible contradiction lies in a misplaced emphasis on the substance of monetary objects as the sole locations of money’s materiality. This paper argues that infrastructures, and not monetary objects alone, are the place where money’s irreducible materiality can be retrieved. Monetary infrastructures are then shown to be deeply relational and composed of material active forms and imaginaries.
