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Bank of England Embraces Digital Age for Finance
Description
The Bank of England is exploring tokenization to enhance financial efficiency, reduce costs, and foster competition. They propose extending settlement system hours for cross-border payments and digital asset trades. Central bank money remains the primary anchor, with collaboration across sectors to ensure stability amidst innovation. The aim is to provide diverse payment options, lower costs, and improve services through tokenized bank deposits, regulated stablecoins, and potentially a retail central bank digital currency.
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