International payment rails: the value of a harmonised gauge – speech by Sarah Breeden
Sarah Breeden explains why interoperability is vital for digital payments, outlining the next steps for the UK stablecoin regime and the need for international harmonisation in digital asset regulation.
In her speech delivered at the Global State of Digital Asset Regulations: Regulatory Harmonisation on Digital Assets Panel at the Point Zero Forum 2025, Sarah Breeden outlines how digitalisation is reshaping central banking and financial stability. She discusses the significance of interoperability to prevent fragmentation within payment systems, emphasising the need for coordinated technical standards and regulatory frameworks to support seamless cross-border transactions.
The speech also covers the Bank of England’s proposed framework for regulating payments-focused stablecoins, including the concept of ‘singleness of money’ to ensure trust in digital money. Breeden addresses industry feedback on the proposed regime and highlights the importance of sandboxes for testing and learning as the technology and markets evolve.