BOE’s Breeden Says Stablecoins Offer Faster, Cheaper Payments

Bank of England Deputy Governor Sarah Breeden said stablecoins could make moving money across borders faster and less costly as the central bank prepares to unveil its plans to regulate them.

Breeden said on Wednesday she expects a “multi-money” world to emerge that includes stablecoins. She said the BOE’s regulation plans are being influenced by the Trump administration’s landmark legislation aimed at normalising stablecoins.

“Stablecoins, for a long time the preserve of crypto markets, are beginning to go ‘mainstream’,” Breeden told a conference in London. “Given they are an existing form of ‘digitally native’ money, their safe adoption could unlock ...