
Bank of England boss not convinced of need for digital pound
The Bank and the Government are in the process of exploring the launch of a digital pound.
Digital PoundYesterday the Bank of England Governor, Andrew Bailey, attended a Treasury Select Committee hearing on financial stability. During the session, there was a discussion about stablecoins and a digital pound, both a retail and wholesale central bank digital currency (CBDC). Bailey doesnt see the need for either. His comments are summarized first, and the full []
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The Bank and the Government are in the process of exploring the launch of a digital pound.
Digital PoundInnovate Finance, the industry body for UK FinTech, through its Digital Pound Foundation programme, has today published a blueprint to make the UK the leading international market for stablecoin a key pillar of the future digital economy.
Digital PoundOffline payment functionality is technically feasible for a future digital pound but there are trade-offs that make it challenging, according to new Bank of England research.
Digital PoundThe Digital Pound Foundation has become part of the umbrella of Innovate Finance, the industry body for UK fintech.
Digital PoundRecord hopes the BOE will abandon the project, which has already cost $30.5 million, and focus on its core responsibilities.
Digital PoundInnovate Finance, the industry body for UK FinTech, and the Digital Pound Foundation (DPF) have officially joined forces today.
Digital Pound