• About Us
  • Careers
  • Contact
No Result
View All Result
Wednesday, October 29, 2025
DeFi Planet
  • News
    • People
    • Business
    • Crime
    • Regulation
    • Crypto
    • CBDC
  • Markets
    • Bitcoin
    • Ethereum
    • Stablecoins
    • Altcoins
    • Crypto ETFs
    • Memecoins
  • Policy
  • Articles
    • Press Releases
    • Opinion
    • Explainers
    • Guest Post
    • Sponsored
  • Directory
    • Companies
    • People
    • Products
    • Wallets
  • Multimedia
    • Videos
    • Podcasts
  • Learn
    • DeFi Basics
    • Tutorials
    • Reviews
    • Blockchain Fundamentals
  • Research
    • Case Studies
  • Explore
    • DeFi
    • Crypto Gaming
    • NFT
    • DAO
    • Metaverse
    • Glossary
  • Jobs
  • Markets Pro
    • DeFi Planet Pro
    • Spend Crypto
    • Swap Crypto
    • Coin Prices
    • Crypto Exchanges
    • Crypto Analyzer
  • News
    • People
    • Business
    • Crime
    • Regulation
    • Crypto
    • CBDC
  • Markets
    • Bitcoin
    • Ethereum
    • Stablecoins
    • Altcoins
    • Crypto ETFs
    • Memecoins
  • Policy
  • Articles
    • Press Releases
    • Opinion
    • Explainers
    • Guest Post
    • Sponsored
  • Directory
    • Companies
    • People
    • Products
    • Wallets
  • Multimedia
    • Videos
    • Podcasts
  • Learn
    • DeFi Basics
    • Tutorials
    • Reviews
    • Blockchain Fundamentals
  • Research
    • Case Studies
  • Explore
    • DeFi
    • Crypto Gaming
    • NFT
    • DAO
    • Metaverse
    • Glossary
  • Jobs
  • Markets Pro
    • DeFi Planet Pro
    • Spend Crypto
    • Swap Crypto
    • Coin Prices
    • Crypto Exchanges
    • Crypto Analyzer
No Result
View All Result
DeFi Planet
No Result
View All Result
Home News Latest News

Bank of England and HM Treasury Launch Consultation for Digital Pound

8 February 2023
in Latest News, News
Reading Time: 3 mins read
104 4
Bank of England and HM Treasury Launch Consultation for Digital Pound

image source: cryptonews.com

The Bank of England (BoE) and HM Treasury have released a consultation document indicating the future need for a digital pound. The Bank of England will serve as the issuer of the digital pound, which can be used for both offline and online payments by individuals and businesses.

HM Treasury and the BoE are launching the consultation to foster private sector innovation, choice, and efficiency in digital payments while ensuring that the public has access to secure funds that are convenient to use as their daily lives grow increasingly digital.

According to the Bank of England, the digital pound would serve the same purpose as cash in the digital world, replicating its risk-free, highly trusted, and accessible qualities. It would also be held to strict privacy and data protection standards, ensuring that neither the government nor the bank would have access to the holders’ personal information and that they would enjoy the same level of privacy as bank accounts.

According to Jeremy Hunt, Chancellor of Exchequer, 

“While cash is here to stay, a digital pound issued and backed by the Bank of England could be a new way to pay that’s trusted, accessible, and easy to use. That’s why we want to investigate what is possible first, whilst always making sure we protect financial stability.”

The private sector would provide consumers with digital wallets that they could use with their smartphones or smartcards to access the digital pound. With these wallets, people can easily maintain their balance and make payments. The Bank of England claims that the wallets would function and leverage merchant infrastructure like present contactless payments do today.

Governor of the Bank of England, Andrew Bailey, stated:

“As the world around us and the way we pay for things becomes more digitalised, the case for a digital pound in the future continues to grow. A digital pound would provide a new way to pay, help businesses, maintain trust in money and better protect financial stability.”

However, Bailey also noted that there are numerous issues that require careful evaluation through technical work, and the consultation and subsequent work by the Bank of England will serve as the foundation for a significant choice for the nation’s use of money.

 

If you would like to read more news articles like this, visit DeFi Planet and follow us on Twitter, LinkedIn, Facebook, and Instagram.

“Take control of your crypto portfolio with MARKETS PRO, DeFi Planet’s suite of analytics tools.”

Share62Tweet39Share11
Favour Udeo

Favour Udeo

Favour is a writer, who is interested in blockchain, DeFi, and Web3 in general. She finds machine learning and emerging technologies interesting.

Related Posts

source: in.marketscreener.com
Crypto

Citi and Coinbase Partner to Power Institutional Digital Asset Payments

28 October 2025
source: kucoin.com
Crypto

KuCoin Pay and DFX.swiss Partner to Launch Crypto Payments at SPAR Stores in Switzerland

28 October 2025
source: prnewswire.com
Crypto

S&P Global Assigns “Junk” Rating to Michael Saylor’s Strategy, Citing Bitcoin Exposure and Liquidity Risks

28 October 2025
source: news.bitcoin.com
Crypto

Trump’s Pardon of Binance Founder Sparks Push to Ban Elected Officials from Owning Crypto

28 October 2025

Editors Picks

Mining vs. Staking: Which Crypto Validation Method Will Shape the Future?

Mining vs. Staking: Which Crypto Validation Method Will Shape the Future?

byOlajumoke Oyaleke
15 July 2025
0

Where Are the Ethereum-Killers Now?

Where Are the Ethereum-Killers Now?

byOlayinka Sodiqand1 others
6 January 2025
0

source: investorplace.com

How to Find the Newest Cryptocurrencies Before They’re Listed

byOlayinka Sodiq
30 December 2024
0

Exploring the Role of AI in Enhancing DeFi Security

Exploring the Role of AI in Enhancing DeFi Security

byOlayinka Sodiq
1 October 2024
0

The Ultimate Guide to How NFT Royalties Work

The Ultimate Guide to How NFT Royalties Work

byAdedamola Ojedokun
17 April 2024
0

Read More

Chain of Thoughts

The Aesthetics of Web3: Why Vibe Matters in Decentralized Communities

The Aesthetics of Web3: Why Vibe Matters in Decentralized Communities

byOlu Omoyele
27 September 2025
0

...

Zero-Knowledge Everything: Trust, Privacy, and Verification in the Digital Age

Zero-Knowledge Everything: Trust, Privacy, and Verification in the Digital Age

byOlu Omoyele
30 August 2025
0

...

What Happens When AI Gets a Wallet?

What Happens When AI Gets a Wallet?

byOlu Omoyele
31 July 2025
0

...

The Game-changing Triumvirate: Blockchain, Data Science, and Artificial Intelligence

The Game-changing Triumvirate: Blockchain, Data Science, and Artificial Intelligence

byOlu Omoyele
30 June 2025
0

...

Markets Update

Can Confidential Lending Unlock Trillions for DeFi Markets?

11 hours ago

Impact of Large Ethereum Validator Exits on ETH Price

12 hours ago

Leading Asset Classes in the On-Chain Real-World Asset Tokenization Trend

12 hours ago

KuCoin Pay Partners with Swapped Connect to Streamline Direct CEX Payments for Web3 Users

15 hours ago

Are Ethereum-Based Treasuries Emerging as the Berkshire Hathaway of Crypto?

4 days ago

Is the Crypto Market Now Majorly Driven by Institutions?

4 days ago
Read More

Events

  • No events
  • Spotlight

    All about Ethereum
    All about Algorand
    All about Bitcoin
    All about Gora

    Press Releases

    Swiss Bitcoin App Relai Acquires MiCA License in France

    bychainwire
    27 October 2025
    0

    River Public Sale – 48-Hour Dutch Auction Lowest Price Settlement, Claim and Refund Instantly After End

    bychainwire
    27 October 2025
    0

    Jiuzi Holdings, Inc. Partners with SOLV Foundation on $2.8B TVL Bitcoin Initiative to Advance Crypto Treasury Strategy

    bychainwire
    27 October 2025
    0

    MultiBank Group and Khabib Nurmagomedov Launch an Exclusive Worldwide Multi-Billion-Dollar Joint Venture to Build the World’s First Regulated Tokenized Sports Ecosystem.

    bychainwire
    25 October 2025
    0

    RIVER Gains 5x Following Binance Perp Listing, Supported by Time-Encoded Airdrop Conversion

    bychainwire
    24 October 2025
    0

    Read More

    ADVERTISING

    ABOUT

    TEAM

    CAREERS

    CONTACT

    TERMS & CONDITIONS

    PRIVACY POLICY

    © Copyright 2025 DeFi Planet

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In

    Add New Playlist

    No Result
    View All Result
    • News
      • People
      • Business
      • Crime
      • Regulation
      • Crypto
      • CBDC
    • Markets
      • Bitcoin
      • Ethereum
      • Stablecoins
      • Altcoins
      • Crypto ETFs
      • Memecoins
    • Policy
    • Articles
      • Press Releases
      • Opinion
      • Explainers
      • Guest Post
      • Sponsored
    • Directory
      • Companies
      • People
      • Products
      • Wallets
    • Multimedia
      • Videos
      • Podcasts
    • Learn
      • DeFi Basics
      • Tutorials
      • Reviews
      • Blockchain Fundamentals
    • Research
      • Case Studies
    • Explore
      • DeFi
      • Crypto Gaming
      • NFT
      • DAO
      • Metaverse
      • Glossary
    • Jobs
    • Markets Pro
      • DeFi Planet Pro
      • Spend Crypto
      • Swap Crypto
      • Coin Prices
      • Crypto Exchanges
      • Crypto Analyzer

    © Copyright 2024 DeFi Planet   |   Terms & Conditions   |   Privacy Policy

    -
    00:00
    00:00

    Queue

    Update Required Flash plugin
    -
    00:00
    00:00