The UK Financial Conduct Authority has listed stablecoin payments in sterling as a priority for the new year.

According to DLNews, the UK Financial Conduct Authority (FCA) has announced that stablecoins pegged to the pound sterling will be a key focus for the new year. This initiative is part of the UK's diversification strategy to boost economic growth, which also includes digitizing financial services, enhancing international trade competitiveness, and expanding lending to small businesses. In a letter to UK Prime Minister Keir Starmer, FCA CEO Nikhil Rathi stated that the agency plans to finalize digital asset rules and advance the development of a UK-issued pound sterling stablecoin by 2026. Currently, there are less than $6 million worth of pound sterling-pegged stablecoins on the market, while the entire stablecoin market is worth $308 billion. (Source: DLNews)