Bank of England Deputy Governor Brendon: Stablecoins can enable faster and lower-cost payments.

According to ChainCatcher news, the Deputy Governor of the Bank of England, Sarah Breeden, stated that as the Bank of England is preparing to announce its stablecoin regulatory plans, stablecoins are expected to accelerate the speed of cross-border capital flows and reduce related costs. Breeden mentioned that she anticipates a multi-currency world that includes stablecoins will gradually take shape. She pointed out that the Bank of England's regulatory plans are influenced by a landmark bill from the Trump administration aimed at normalizing stablecoins. Breeden said at a conference in London: “Stablecoins, which have long been confined to the cryptocurrency market, are beginning to move into the mainstream.” Given that stablecoins are already an existing form of native digital currency, their secure application is expected to unlock faster and lower-cost settlement methods for cross-border transactions, while also supporting tokenization of securities trading. The Bank of England plans to launch consultations on its revised stablecoin regulatory framework later this year. Previously, industry insiders warned that the Bank of England's initial regulatory stance was too stringent, and the bank is currently easing related measures.