Deputy Governor of the Bank of England: Tokenization Can Reduce Costs and Foster Competition; Plans to Extend Settlement Infrastructure to Near 24/7

According to Cointelegraph, Sarah Breeden, Deputy Governor of the Bank of England, stated at the London City Week event that tokenization holds promise for reducing payment costs, accelerating settlement speeds, and enhancing financial market efficiency—but only on the premise of maintaining trust and interoperability. She emphasized that central bank money will continue serving as the “anchor” of the monetary system, while supporting the parallel development of diverse payment forms—including tokenized deposits, regulated stablecoins, and retail CBDCs. At the infrastructure level, the Bank of England has proposed extending the operating hours of its core settlement systems to near 24/7 to meet demands for cross-border payments and securities settlement.