Last year, in June 2022, at one of our London meet-ups, Ram spoke about the potential this could have for interbank transfers. He described the solution as “the ultimate stablecoin,” harnessing all the benefits of stablecoins with the added security of being backed by central bank money.
Back then, the plan was to launch in October 2022, starting in England with a sterling-backed payment system – £FnPS (these acronyms are getting really out of hand). But ongoing development hung on the Bank of England. “Her Majesty’s Treasury needs to designate us as a systemically important payment system,” he said at the time.
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Isabelle is a journalist for Fintech Nexus News and leads the Fintech Coffee Break podcast.
Isabelle's interest in fintech comes from a yearning to understand society's rapid digitalization and its potential, a topic she has often addressed during her academic pursuits and journalistic career.