ClearBank executives: If we don't develop a GBP stablecoin, we will fall behind. Can UK regulation keep pace?

Question

[Coin World] ClearBank CEO Mark Fairless recently spoke out, stating that the UK needs to quickly get its pound stablecoin initiative underway.

He said it quite frankly: Is it realistic for the pound stablecoin to compete with big players like the dollar and euro? Not really. But the problem is, if you don't do it, you'll completely fall behind in real-time cross-border payments. Other markets are racing ahead; can the UK financial services industry maintain its advantages?

The good news is that the Bank of England has released a draft of the regulatory framework, with formal terms expected to be issued in the second half of 2026. It seems that there is movement at the policy level; the question is whether the execution speed can keep up. After all, in the stablecoin sector, even a slight delay could lead to a different landscape.

TokenDustCollector · Accepted Answer

It&#39;s the same old story again, the UK is always half a beat slower.

Wait, formal terms won&#39;t be released until 2026? This speed is indeed a bit slow.

Speaking of which, with the competition for stablecoins being so fierce, we really can&#39;t wait.

BloodInStreets · Answer

Here we go again, the terms won&#39;t be officially released until 2026? By that time, the flowers will have withered, and the US dollar stablecoin will have already consumed the market. I&#39;ve heard this talk about falling behind so many times, yet no one really dares to risk it all to buy the dip on the pound.

CryptoMom · Answer

Typical British people, always a step behind, formal terms won&#39;t come out until 2026? It&#39;s already doomed.

Wait, is this for real? The pound stablecoin hasn&#39;t been done yet? I thought it was already available.

Mark is right, if they don&#39;t do it, it will certainly be useless, but the execution in the UK... never mind, I&#39;ll just continue to focus on the dollar stablecoin.

It feels like the UK is just all talk, the framework is already in draft but they still have to wait, who knows where the EU has already run off to.

RugPullSurvivor · Answer

Falling behind means disaster; the UK really needs to tighten up this time.

2026 release? By then, the yellow flowers will be doomed.

It&#39;s another story of slow regulation, a classic British style.

No matter how well it&#39;s said, execution is what matters; otherwise, it&#39;s just talk.

If the pound stablecoin really becomes a reality, then the landscape of cross-border payments will have truly changed.

TradingNightmare · Answer

It&#39;s the same old "getting left behind" argument, urging every day. If the UK really wants to overtake on the curve, they shouldn&#39;t wait until 2026; they need to get moving now.

No matter how perfect the regulatory framework is, it&#39;s still just a paper article; the key is whether the banks are willing to truly embrace this thing.