BoE Urges Faster Global Stablecoin Standards for Assured Value

Bank of England (BoE) governor Andrew Bailey said progress on global stablecoin standards is moving too slowly. He warned that without international coordination, stablecoins may not deliver “assured value”—the confidence that they can always be redeemed at face value. Speaking at an event hosted by the Institute of International Finance and reported by Reuters, Bailey said different “rules of engagement” across countries could undermine investor confidence and market integrity. His call centers on global stablecoin standards that reduce fragmentation and regulatory arbitrage. Market context: Stablecoins’ total market cap surpassed $300 billion in December 2025, and monthly on-chain activity exceeded $1 trillion multiple times during 2025. Chainalysis data cited in the article estimates stablecoins processed $28 trillion in “real economic volume” in 2025, with a projection of up to $1.5 quadrillion by 2035—potentially exceeding today’s cross-border payments market. Regulatory developments cited: the EU’s MiCA stablecoin rules took effect in June 2024; the U.S. GENIUS Act was signed in July 2025, creating a first federal stablecoin framework. The UK has been slower, with the FCA/BoE proposing roles for digital-asset oversight and the Treasury publishing a draft Statutory Instrument last April. UK legislation is still pending, with the House of Lords conducting an inquiry. The article notes that frameworks across the EU, U.S., and UK are converging on features likely to support assured value—licensing, reserve requirements for stablecoin issuers, and transparency/disclosure. Bailey’s message is that these stablecoin standards should arrive sooner and be internationally consistent.