Bank of England Manager: CBDC Will Be The Safest Type Of Money
June 17, 2021
Bank of England fintech director Tom Mutton spoke about CBDCs at FStech’s “Future of Fintech” conference on June 17. In his speech, Mutton evaluated the responses to the Bank of England’s (BoE) discussion paper on CBDCs.
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Mutton stated that a CBDC must go through many studies before it can be released. Still, Mutton has a more positive outlook on a CBDC than Bank of England’s previous statements. Mutton believes CBDC will be the safest type of money:
The executive also pitted CBDC against other forms of money, such as stablecoins:
Mutton also spoke about the responses to the CBDC document issued by the BoE. While 39% of these answers came from technology and fintech companies, only 5% came from financial institutions. According to Mutton, the answers to the document are very suitable for the cautious approach.