The Bank of England (BOE) is testing how stablecoins and a digital pound can coexist in payment flows, part of global efforts to modernize cross-border finance. By moving its exploration into Phase 2, the BOE aims to assess whether public stablecoin infrastructure and central bank money can integrate successfully for trade finance purposes.
Small businesses benefit from improved trade finance processes as delays and lack of proof of creditworthiness are addressed, according to Otto Jacobsson, U.K. chapter lead at the Digital Assets Association.
Written by James Tobias
Bitcoin Desk
