UK Eyes Stablecoins for Payments: Risks and Rewards

Stablecoins are a type of cryptocurrency designed to keep a steady value, unlike Bitcoin which can jump up and down.

They're often linked to things like the US dollar or gold.

The UK government is interested in them because they could make international payments cheaper and easier.

The government is keen on developments in blockchain technology, and London handles a lot of international money exchange.

However, stablecoins have risks: they could lose their value, and can be used for illegal activities.

The UK's central bank, the BoE, is looking at how to regulate them.