According to CoinMeta, and as reported by Bloomberg, Deputy Governor of the Bank of England Sarah Breeden stated that given the rapid innovation in the field of digital payments, there is no need for the UK to rush to launch a central bank digital currency (CBDC) for the public. She emphasized that commercial stablecoins and tokenized bank deposits could also fulfill some of the functions of the digital pound. Breeden hopes that local companies will be able to develop successful pound stablecoins to provide an alternative to the market dominated by US dollar stablecoins, preventing UK residents and businesses from having to use only US dollar stablecoins to access innovative payment services. At the same time, the Bank of England is upgrading its real-time gross settlement system to support tokenized financial transactions and instant settlements around the clock.