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UK digital pound push

The UK is actively advancing a digital pound, with the Bank of England driving stablecoin and CBDC innovation through mandates and live sandbox testing.

2 entriesThu, Aug 13 – Fri, Aug 28Institutional Transition

Timeline

  1. Fri, Aug 28LatestVerified · 28 Aug 2026

    UK Mandates BoE on Stablecoins

    The UK government is set to give the Bank of England a formal mandate to support stablecoins and digital money, per Cointelegraph and other outlets. The mandate lands on top of the Bank's finalised systemic-stablecoin regime from June: issuers must hold 30% of backing assets as unremunerated central-bank deposits — reduced from a proposed 40% after industry argued the split undermined viability — with the remaining 70% in short-term UK government debt, a £40 billion aggregate issuance cap, and 24-hour redemption at par.

  2. Thu, Aug 13Verified · 13 Aug 2026

    BoE Tests Stablecoins Beside a Digital Pound

    The Bank of England moved its digital pound work into Phase 2 on Wednesday, testing whether public stablecoins and central-bank money can operate in a single trade-finance flow — an exporter advanced via stablecoin, a UK importer settling in digital pounds — with NOBO Finance, Dun & Bradstreet and Polygon Labs. A parallel workstream builds a reusable small-business credit profile from wallet, open-banking and credit-bureau data. The lab uses no real customers or money and signals no issuance decision.