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BoE's Carolyn Wilkins: lessons from history for stablecoins and US dollar dominance

In a speech at Queen's University Belfast, Bank of England Financial Policy Committee member Carolyn Wilkins examined what widespread use of US dollar stablecoins could mean for international monetary power, arguing that the key questions about stablecoins concern money and power.

cryptobanking.news Editorial · AI-assisted, source-verifiedT1RegulatorUK
Illustration · category artwork. Primary source: Bank of England speeches (bankofengland.co.uk).
  • Stablecoins

Executive summaryFact

In a speech at Queen's University Belfast, Bank of England Financial Policy Committee member Carolyn Wilkins examined what widespread use of US dollar stablecoins could mean for international monetary power, arguing that the key questions about stablecoins concern money and power.

Primary source: Bank of England speeches ↗

Key factsFact

Jurisdiction
UK
Source
Bank of England speeches
Source tier
Tier 1 · Regulator / central bank

From the sourceFact

“The strategic issue here is what role stablecoins will play in a system where money, payments and geopolitical power are becoming increasingly intertwined.”

Verbatim from Bank of England speeches✓ string-matched against the live page 2026-10-22

Why it matters for banksAnalysis

UK policymakers are framing dollar-stablecoin adoption as a monetary-sovereignty issue, which may shape how restrictive the UK sterling stablecoin and bank-holding regime turns out to be.

Editorial analysis based on the facts above and the sources below; not legal or investment advice.

Sources and evidence

Evidence types: how we classify sources.

AIAI-assisted: summary and analysis were drafted with AI from the primary source and are the editor’s responsibility. AI-drafted from the primary source; quote string-matched by scripts/verify.mjs. Methodology · Corrections · Report an error

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