Bank of England Deputy Governor Brendon: Stablecoins can enable faster and lower-cost payments

ChainCatcher news, according to Zhitong Finance, Bank of England Deputy Governor Sarah Breeden stated that as the Bank of England prepares to announce its stablecoin regulatory plan, stablecoins are expected to accelerate the speed of cross-border capital flows and reduce associated costs. Breeden mentioned that she anticipates a multi-currency world that includes stablecoins will gradually take shape. She pointed out that the Bank of England's regulatory plan is influenced by a landmark bill from the Trump administration aimed at normalizing stablecoins. Breeden stated at a conference in London: "Stablecoins, which have long been confined to the cryptocurrency market, are beginning to move into the mainstream." Given that stablecoins are an existing form of native digital currency, their secure application is expected to unlock faster and lower-cost settlement methods for cross-border transactions, while also supporting tokenized securities trading. The Bank of England plans to launch a consultation on the revised stablecoin regulatory framework later this year. Previously, industry insiders warned that the Bank of England's initial regulatory stance was too stringent, and the bank is currently easing related measures.