UK Eyes 10% Stablecoin Market Share as FX Strategy
UK Eyes 10% Stablecoin Market Share as FX Strategy
馃幆 UK's stablecoin play
The UK, which controls 40% of global foreign exchange trading, is positioning stablecoins as a strategic forex opportunity.
At a House of Lords roundtable hosted by Baroness Uddin, Tony McLaughlin of ubyx argued that stablecoins represent a geopolitical opportunity rather than a fragmentation problem.
Key points from the discussion:
- Stablecoins function as digital representations of fiat currency trades
- UK should target 10% of the stablecoin market share
- Each stablecoin represents a forex trading opportunity
- McLaughlin proposed a "Pokemon strategy" - collecting various stablecoins on UK balance sheets
- Goal: offer global payments in stablecoins to benefit the UK economy
This follows the FCA's January 2026 launch of a regulatory sandbox for sterling-backed stablecoins, part of 50 growth reforms positioning London ahead of MiCA-compliant euro stablecoins arriving mid-2026.
The UK handles around 40% of global foreign exchange, making it easily the largest FX hub worldwide, surpassing New York, Singapore, and Hong Kong combined. With stablecoins playing an increasingly important role in currency markets, they can be traded exactly like foreign
Taking part today in the UK House of Lords discussion on stablecoins and digital payments alongside @Oliver___Brett. A sincere thank you to @BaronessUddin for the invitation and for hosting such an important conversation around the future of financial infrastructure and the UK鈥檚
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