BoE deputy says tokenization could cut costs, boost competition
Cointelegraph
Bank of England Deputy Governor Sarah Breeden advocates for tokenization to enhance payment efficiency, lower costs, and foster financial market competition.Summary
Bank of England Deputy Governor Sarah Breeden recently highlighted the potential of tokenization—representing assets on digital ledgers—to streamline payments and increase market competition. While emphasizing that central bank money remains the monetary system's core anchor, Breeden noted that tokenized deposits and regulated stablecoins could provide users with more functionality. The Bank is currently collaborating with regulators to develop a supportive framework that balances innovation with financial stability. Furthermore, the BoE is moving to modernize its infrastructure by proposing extended settlement hours to accommodate the growth of digital assets and cross-border transactions.
(Source：Cointelegraph)