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Investing.com -- Bank of England Deputy Governor Sarah Breeden stated that stablecoins could make cross-border money transfers faster and less expensive as the central bank prepares to unveil its regulatory framework for these digital assets.
Speaking at a conference in London on Wednesday, Breeden said she anticipates a "multi-money" world emerging that will include stablecoins.
She noted that the BOE’s regulatory approach is being influenced by the Trump administration’s landmark legislation aimed at normalizing stablecoins.
"Stablecoins, for a long time the preserve of crypto markets, are beginning to go ’mainstream’," Breeden told the conference.
"Given they are an existing form of ’digitally native’ money, their safe adoption could unlock faster, cheaper settlement for cross-border transactions as well as supporting trading of tokenised securities."
The deputy governor’s comments come as central banks worldwide grapple with how to regulate digital currencies while potentially harnessing their benefits for the financial system.
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