U.S. and UK Plan to Explore Stablecoin Use in Cross-Border Finance, Joint Statement Says

The U.S. and UK governments said they plan to explore the use of stablecoins in cross-border finance to support the modernization of financial infrastructure. According to Odaily, the plan was outlined in a joint statement issued by the Transatlantic Financial Markets Working Group. The two governments said regulated stablecoins have the potential to improve the efficiency and competitiveness of the financial system, support upgrades to financial market infrastructure, and improve the efficiency of cross-border payments and transactions.