Joint U.K.-U.S. statement: Plan to apply stablecoins in cross-border finance

Golden Finance reported that on July 15, the UK and the US issued a joint stablecoin statement, saying that, as reflected in the UK-US “Future Market Transatlantic Joint Working Group,” the governments of the UK and the US are committed to deepening cooperation between the two sides in capital markets and digital assets, ensuring that digital financial innovation strengthens rather than fragments the transatlantic financial market system.

Both governments believe that well-regulated stablecoins have the potential to improve the efficiency and competitiveness of the financial system, achieve modernization of financial market infrastructure, and enhance cross-border payment and trading experiences.

The two governments also recognize that, in a financial ecosystem that includes multiple forms of currency, it is crucial to promote competition and innovation, maintain financial stability, protect consumers’ rights and interests, and preserve public confidence in the monetary system.