FCA Highlights Rising Crypto Ownership as It Outlines Regulatory Plans
The Financial Conduct Authority (FCA) has unveiled its latest research on consumer attitudes and behaviours towards cryptocurrency, revealing a notable increase in UK crypto ownership. According to the findings, 12% of UK adults now own cryptocurrency, up from 10% in previous years, while awareness of crypto assets has risen slightly from 91% to 93%. This […]
UK Government’s Approach to Tokenisation and Regulation: Keynote Highlights from Tulip Siddiq MP
Tulip Siddiq MP, Economic Secretary to the Treasury, delivered a keynote at this year’s City and Financial Global Tokenisation Summit outlining the UK government’s progressive strategy in embracing tokenisation and digital assets. Her speech underscored the transformative potential of distributed ledger technology (DLT) and reaffirmed the government’s commitment to positioning the UK as a global […]
HM Treasury Aims to Modernise Payments and Drive Innovation with its New National Payments Vision
HM Treasury has announced its National Payments Vision, setting out an ambitious plan to position the UK as a global leader in payments. This strategy aims to strengthen the economy by fostering innovation, enhancing security, and offering consumers and businesses a range of trusted payment options, all underpinned by next-generation technology. In the ministerial foreword, […]
Norway Backs EU Crypto Regulation, Weighs Potential CBDC for Financial Stability
Norges Bank, Norway’s central bank, has voiced its support for the European Union’s Markets in Crypto-Assets (MiCA) regulation while evaluating the potential for a central bank digital currency (CBDC) to enhance cross-border payments and bolster financial stability. As part of the European Economic Area (EEA), Norway aligns closely with EU regulations, including MiCA. Kjetil Watne, […]
From Gen Z to the Elderly: Digital Pound Foundation Workshop Identifies Key Use Cases for a Digital Currency
On 23 September 2024, as part of Currency Research’s Digital Currency Conference, the Digital Pound Foundation (DPF) ran a “hands-on” workshop where participants looked to find the killer use case for a digital currency. Participants from central banks, the IMF, corporates and academia sat down to brainstorm why “Anthony’s granny”, the financially excluded/stretched, digitally native […]
BIS Departure from mBridge: A Strategic Exit or a Political Move?
Last week, the Bank for International Settlements (BIS) announced its exit from the mBridge cross-border payments project, a significant initiative in the field of central bank digital currencies (CBDCs). Agustín Carstens, BIS General Manager, confirmed the decision at the Santander International Banking Conference, attributing the move to the project’s progress rather than political pressures or […]
Innovation in Money and Payments: The Digital Pound Foundation’s Response to the Bank of England
The Digital Pound Foundation has responded to the Bank of England’s July 2024 discussion paper on innovation in money and payments (download here), offering insights drawn from its members’ expertise in digital money and central bank digital currency (CBDC) projects. Our response emphasises the foundational role a digital Pound could play in securing the UK’s […]
Bank of England Governor Signals Potential Role for a Retail CBDC if Commercial Banks Lag on Innovation
In a significant address at the Group of Thirty’s 39th Annual International Banking Seminar in Washington, Bank of England Governor Andrew Bailey stressed the importance of modernising the UK’s payment infrastructure. Bailey highlighted the urgent need for reforms in cross-border and wholesale payment systems, where speed, cost-efficiency, transparency, and access remain pressing issues. He argued […]
Stripe Acquires Stablecoin Platform Bridge for $1.1 Billion, Signalling Major Step into Digital Assets
In a landmark acquisition, Stripe, the global payments processor, has acquired stablecoin platform Bridge for $1.1 billion. This acquisition, confirmed by Stripe and Bridge, marks Stripe’s largest acquisition to date and one of the most significant in the cryptocurrency sector. Bridge, founded by entrepreneurs Sean Yu and Zach Abrams, has emerged as a prominent software […]
Transforming Asset Servicing With AI, Oracles, and Blockchains: Chainlink, Avalanche, Swift, Euroclear, UBS, and Others Join Forces
A new industry initiative led by Chainlink and eight major financial market infrastructures and institutions aims to revolutionise corporate actions processing by leveraging advancements in AI, oracles, and blockchain technology. This ambitious multi-phase project seeks to solve one of the most pressing issues in financial markets— the lack of real-time, standardised data, particularly in fragmented […]
