Sarah Breeden – Deputy Governor of Financial Stability at the BoE – has delivered a speech on innovation in money and payments at the Bank of England and Warwick Business School Innovation in Money and Payments Conference.
The speech focusses on the potential for a “multi-money” system in which different money forms – including traditional and tokenised commercial bank deposits, stablecoins and central bank money – are freely exchangeable.
Breeden highlights that central banks will need to assist with: providing necessary infrastructure, establishing regulatory frameworks and setting strategies to enable innovation. She referred to the BoE’s news RTGS service RT2, the Digital Pound project and the Digital Securities Sandbox as example workstreams.