Bank of England Seeks Successful Local Pound Stablecoins, Sees No CBDC Rush

Deputy Governor Sarah Breeden said the Bank of England sees no need to rush a CBDC for the public as digital payments rapidly innovate, while commercial stablecoins and tokenized bank deposits may provide some functions envisioned for a digital pound. The comments position privately issued digital payment instruments as part of the United Kingdom’s evolving payments system. The Bank of England seeks successful local pound-denominated stablecoins as an alternative to dollar stablecoins. That would help prevent British consumers and businesses from relying on dollar stablecoins for innovative payment services.

Source: TokenPost