Bank of England preparing for greater role of tokenization in finance, official says

Bank of England deputy governor Sir Jon Cunliffe spoke at the Innovative Finance Global Summit in London on April 17 about the development of tokenization. The UK’s central bank is currently exploring tokenization in bank money, non-bank money and central bank money and the ways tokenized assets will interact.

Stablecoins, Cunliffe said, “offer the possibility of greater efficiency and functionality in payments,” but “it is extremely unlikely that any of the current offerings would meet the standards for robustness and uniformity we currently apply both to commercial bank money and to the existing payment systems.” The central bank is planning to collaborate with the Financial Conduct Authority on regulation after the passage of the Financial Services and Markets Bill.

That sounds promising.

Stablecoins have been occupying an important position in the cryptocurrency space

Belgique Dernières Nouvelles, Belgique Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

Bank earnings ‘off to a good start,’ with Bank of America and Goldman Sachs on deckFirst-quarter earnings from the largest U.S. banks are off to a mostly positive beginning despite a tough start to the year for the sector, analysts said. And $pnfp Inflation with a recession coming & the big banks are still making tons of money Find out what they don't want you to know about how the system really works This book helped me get my credit score over 800 with low debt & low interest rates payitforward
La source: MarketWatch - 🏆 3. / 97 Lire la suite »