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The post UK Needs Stablecoins To Keep Pace With US Dollar and Euro — Fintech Exec appeared on BitcoinEthereumNews.com. The United Kingdom needs to regulate and encourage the development of British pound stablecoins to keep the country’s financial services sector globally competitive, according to Mark Fairless, the group CEO of bank infrastructure and fintech company ClearBank. “Stablecoins are a logical extension to reduce friction in international global payments,” Fairless told Cointelegraph in an interview at Web Summit 2025 in Lisbon, Portugal.   He said that pound stablecoins will never equal the market capitalization of dollar or euro-denominated tokens because it isn’t a global reserve currency.  Dollar-denominated stablecoins account for about $299.4 billion of the nearly $300 billion total stablecoin market cap. Source: RWA.XYZ However, the UK needs a British pound stablecoin to remain commercially competitive as the world shifts to onchain finance and internet capital markets, Fairless said. He told Cointelegraph: “From a capability perspective for the UK, the ability to settle payments internationally in real time requires a GBP stablecoin, and if we don’t have one, we risk falling behind other financial sectors. “The financial services market in the UK is one of our strongest parts of the economy, and so, stablecoins are a logical place to go next,” he said, adding that the effect of stablecoins on the banking sector and traditional business models remains to be seen. Stablecoins have become geostrategically relevant as governments respond to growing pressure to place their fiat currencies onchain to remain competitive with countries that integrate digital and blockchain rails into their economies. Related: Bank of England’s Breeden warns watered-down stablecoin rules risk stability Bank of England vows to keep pace with the US on stablecoins Sarah Breeden, deputy governor for the Bank of England, the UK’s central bank, said the country will keep pace with US stablecoin regulations and work closely with international partners to synchronize regulatory efforts. Breeden also urged… The post UK Needs Stablecoins To Keep Pace With US Dollar and Euro — Fintech Exec appeared on BitcoinEthereumNews.com. The United Kingdom needs to regulate and encourage the development of British pound stablecoins to keep the country’s financial services sector globally competitive, according to Mark Fairless, the group CEO of bank infrastructure and fintech company ClearBank. “Stablecoins are a logical extension to reduce friction in international global payments,” Fairless told Cointelegraph in an interview at Web Summit 2025 in Lisbon, Portugal.   He said that pound stablecoins will never equal the market capitalization of dollar or euro-denominated tokens because it isn’t a global reserve currency.  Dollar-denominated stablecoins account for about $299.4 billion of the nearly $300 billion total stablecoin market cap. Source: RWA.XYZ However, the UK needs a British pound stablecoin to remain commercially competitive as the world shifts to onchain finance and internet capital markets, Fairless said. He told Cointelegraph: “From a capability perspective for the UK, the ability to settle payments internationally in real time requires a GBP stablecoin, and if we don’t have one, we risk falling behind other financial sectors. “The financial services market in the UK is one of our strongest parts of the economy, and so, stablecoins are a logical place to go next,” he said, adding that the effect of stablecoins on the banking sector and traditional business models remains to be seen. Stablecoins have become geostrategically relevant as governments respond to growing pressure to place their fiat currencies onchain to remain competitive with countries that integrate digital and blockchain rails into their economies. Related: Bank of England’s Breeden warns watered-down stablecoin rules risk stability Bank of England vows to keep pace with the US on stablecoins Sarah Breeden, deputy governor for the Bank of England, the UK’s central bank, said the country will keep pace with US stablecoin regulations and work closely with international partners to synchronize regulatory efforts. Breeden also urged…

UK Needs Stablecoins To Keep Pace With US Dollar and Euro — Fintech Exec

Author: BitcoinEthereumNews
Source: BitcoinEthereumNews
2025/11/15 01:06
2 min read
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The United Kingdom needs to regulate and encourage the development of British pound stablecoins to keep the country’s financial services sector globally competitive, according to Mark Fairless, the group CEO of bank infrastructure and fintech company ClearBank.

“Stablecoins are a logical extension to reduce friction in international global payments,” Fairless told Cointelegraph in an interview at Web Summit 2025 in Lisbon, Portugal.  

He said that pound stablecoins will never equal the market capitalization of dollar or euro-denominated tokens because it isn’t a global reserve currency. 

Dollar-denominated stablecoins account for about $299.4 billion of the nearly $300 billion total stablecoin market cap. Source: RWA.XYZ

However, the UK needs a British pound stablecoin to remain commercially competitive as the world shifts to onchain finance and internet capital markets, Fairless said. He told Cointelegraph:

“The financial services market in the UK is one of our strongest parts of the economy, and so, stablecoins are a logical place to go next,” he said, adding that the effect of stablecoins on the banking sector and traditional business models remains to be seen.

Stablecoins have become geostrategically relevant as governments respond to growing pressure to place their fiat currencies onchain to remain competitive with countries that integrate digital and blockchain rails into their economies.

Related: Bank of England’s Breeden warns watered-down stablecoin rules risk stability

Bank of England vows to keep pace with the US on stablecoins

Sarah Breeden, deputy governor for the Bank of England, the UK’s central bank, said the country will keep pace with US stablecoin regulations and work closely with international partners to synchronize regulatory efforts.

Breeden also urged a cautious approach and warned against loosening stablecoin regulations to the point where the asset class poses a systemic risk to the banking sector.

The Bank of England published a consultation paper on Monday outlining a proposed regulatory framework for stablecoins in the UK.

Bank of England stablecoin regulatory framework timeline. Source: Bank of England

The proposal included potential reserve requirements, asset taxonomy, and risk management regulations for stablecoin issuers and is open for industry feedback until February 2026, with finalized regulations expected in the second half of the year.

Magazine: Unstablecoins: Depegging, bank runs, and other risks loom

Source: https://cointelegraph.com/news/uk-falling-behind-countries-gbp-stablecoin?utm_source=rss_feed&utm_medium=feed&utm_campaign=rss_partner_inbound

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