UK Government Assigns New Objectives to Support Digital Payments Innovation

The Bank of England has been assigned new objectives by the UK government to support innovation in digital payments and financial services.

The new 'secondary objective' is aimed at maintaining financial stability, while also promoting the development of payment systems and stablecoins, such as those used for digital tokens.

Stablecoins are designed to maintain a stable value and have seen rapid growth, particularly under the Trump administration's pro-crypto policies.