Bank of England Treating Stablecoins as 'New Form of Money', Says Exec

In brief

• The U.K.’s central bank is treating stablecoins as “a new form of money” in the debate between tokenized deposits and stablecoins.
• The Bank of England and Financial Conduct Authority are gearing up to accept applications from would-be stablecoin issuers in the U.K.
• The BoE will regulate “systemic” stablecoins that are widely used in payments.