Bank Of England Governor Outlines ’Multi-Money’ Vision Including Stablecoins

Bank of England Deputy Governor Sarah Breeden has articulated a forward-looking vision for a "multi-money" system in the UK, one that integrates stablecoins alongside traditional financial assets. Speaking at a London conference, Breeden emphasized the need for the central bank to adapt to technological advancements that are reshaping payment systems globally.

The proposed framework envisions seamless interoperability between tokenized bank deposits, stablecoins, and central bank digital currencies. "Technology must drive faster, cheaper, and more innovative payments," Breeden stated, while underscoring the critical importance of maintaining public trust in monetary systems.

The BoE plans to establish foundational infrastructure, develop appropriate regulatory guardrails, and implement strategic policies to balance innovation with financial stability. This comes ahead of the central bank's forthcoming consultation on cryptocurrency policy proposals.