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Thursday Nov 13 2025 20:00
2 min
Mark Fairless, group CEO of ClearBank, has underscored the critical need for the United Kingdom to regulate stablecoins pegged to the British pound. He asserts that this regulation is vital for maintaining the competitiveness of the UK's financial services sector on a global scale.
In an interview with Cointelegraph at Web Summit 2025 in Lisbon, Fairless stated, "Stablecoins are a logical extension to reduce friction in international global payments." He further elaborated that while pound stablecoins may never match the market capitalization of dollar or euro-denominated tokens, the UK requires a British pound stablecoin to remain commercially competitive as the world increasingly shifts towards onchain finance and internet capital markets.
Fairless emphasized that the UK's ability to settle payments internationally in real time hinges on the availability of a GBP stablecoin. Without one, he warned, the UK risks falling behind other financial sectors. He highlighted that the financial services market is one of the UK's strongest economic pillars and that stablecoins represent a logical next step. However, he acknowledged that the impact of stablecoins on the traditional banking sector and established business models remains uncertain.
Stablecoins have gained geopolitical significance as governments face growing pressure to put their fiat currencies onchain to compete with countries that are integrating digital and blockchain infrastructure into their economies.
Sarah Breeden, deputy governor for the Bank of England, has pledged that the UK will keep pace with stablecoin regulations in the United States and collaborate closely with international partners to synchronize regulatory efforts. Breeden also urged a cautious approach and cautioned against weakening stablecoin regulations to the point where they pose a systemic risk to the banking sector.
The Bank of England has published a consultation paper outlining a proposed regulatory framework for stablecoins in the UK. This proposal encompasses potential reserve requirements, asset taxonomy, and risk management regulations for stablecoin issuers. The industry is invited to provide feedback until February 2026, with finalized regulations anticipated in the second half of the year.
Risk Warning: this article represents only the author’s views and is for reference only. It does not constitute investment advice or financial guidance, nor does it represent the stance of the Markets.com platform.When considering shares, indices, forex (foreign exchange) and commodities for trading and price predictions, remember that trading CFDs involves a significant degree of risk and could result in capital loss.Past performance is not indicative of any future results. This information is provided for informative purposes only and should not be construed to be investment advice. Trading cryptocurrency CFDs and spread bets is restricted for all UK retail clients.
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