Joint Statement by the US and UK: Plan to Apply Stablecoins in Cross-Border Finance

The UK and the U.S. have released a joint statement on stablecoins, noting that as reflected in the U.S.-UK Transatlantic Task Force on Future Markets, both governments are committed to deepening cooperation in capital markets and digital assets, and ensuring digital financial innovation strengthens rather than fragments the transatlantic financial market system. Both governments agree that well-regulated stablecoins have the potential to enhance the efficiency and competitiveness of the financial system, modernize financial market infrastructure, and improve cross-border payment and transaction experiences. The two sides also recognize that in a financial ecosystem encompassing multiple forms of currency, it is critical to foster competition and innovation, maintain financial stability, protect consumer rights and interests, and preserve public confidence in the monetary system.