According to a press release published 07 February, the Bank of England and Britain’s treasury are considering changing the future of the GBP as we know it.
The Bank of England is analyzing the option of issuing a digital currency for everyday household and business transactions.
However, the digital pound would not replace traditional currency. On the contrary, it would replicate the role of cash in the digital world and would have the same value.
Unlike crypto assets and stablecoins, the digital pound would be supported by the Central Bank, which would mean lesser price volatility.