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Bank Of England Deputy Governor Sarah Breeden Sees Stablecoin As Part Of Future Economy
Bank Of England Deputy Governor Sarah Breeden Sees Stablecoin As Part Of Future Economy. Photo By Yiming Ma On Unsplash.
In her keynote speech at the Bank of England and Warwick Business School conference, Sarah Breeden, Deputy Governor for Financial Stability, outlined a vision for a "multi-money" system. This would integrate various forms of money, including traditional currencies, tokenized bank deposits, stablecoins, and central bank money.
Sarah Breeden acknowledged the premise of stablecoins and that they are going ‘mainstream’, a more encouraging indication that UK bankers and policymakers are considering stablecoins as a more reliable use-case of crypto and digital assets for payments. Alongside this, there was a mention of the benefits of programmability with tokenization and tokenized deposits.
She also referenced the start of the RT2 (Real-Time Gross Settlement) service in the UK that looks to integrate aspects of DLT (Distributed Ledger Technologies) for interaction with other banks onchain, the Digital Securities Sandbox, as well as the official launch of the Digital Pound Lab and its research agenda last month.
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