UK FCA: Cross-border payments are the most identified use case for stablecoins in the near term
2026-07-29 07:22
Odaily Planet Daily News The UK Financial Conduct Authority (FCA) has published the results of its March Stablecoin Sprint policy initiative, which brought together banks, payment companies, stablecoin issuers, and other industry participants to explore the use cases of stablecoins.
Participants indicated that cross-border payments are the most identified use case for stablecoins in the near term, especially in emerging markets with limited access to the US dollar; stablecoins offer fewer advantages in major payment channels where existing systems are already fast and relatively low-cost.
Participants also noted that UK domestic consumers have limited incentives to switch to stablecoin payments, as existing payment methods are already fast and low-cost. However, merchants may benefit from lower costs and faster settlement. The relevant feedback has been incorporated into the FCA's final rules on June 30 and will influence its subsequent stablecoin payment policy.
Participants indicated that cross-border payments are the most identified use case for stablecoins in the near term, especially in emerging markets with limited access to the US dollar; stablecoins offer fewer advantages in major payment channels where existing systems are already fast and relatively low-cost.
Participants also noted that UK domestic consumers have limited incentives to switch to stablecoin payments, as existing payment methods are already fast and low-cost. However, merchants may benefit from lower costs and faster settlement. The relevant feedback has been incorporated into the FCA's final rules on June 30 and will influence its subsequent stablecoin payment policy.
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