The global stablecoin market has crossed $300 billion in market capitalisation. Yet over 99% of this value is denominated in US dollars. The UK’s presence in this rapidly-evolving financial architecture is almost negligible i.e., limited to a single sterling-backed stablecoin with a market cap barely exceeding $31 million.
This asymmetry is not just a market statistic but a strategic signal. As the House of Lords Financial Services Regulation Committee makes clear, the question is no longer whether stablecoins matter, but whether the UK will claim greater stakes in this evolution or not.
