The Strategy will set out a roadmap for the future evolution of the entire payments system, taking account of developments in digital payments, cash usage and how future changes should be made to the legislative criteria relating to access to cash.

Within the payment roadmap, the NPS will also look at cryptoassets, instant payments, open banking, and what new data needs to be collected on the payments landscape.

Deadline for comments is 14 February 2024.

She said that, in theory, stablecoins have the potential to make international payments cheaper and faster and could foster greater financial inclusion. However, from a stability and regulatory perspective, they raise a host of issues in respect of the operational stability of payments systems, the protection of consumers and their data, anti-money laundering and terrorism financing, and critically to financial and monetary stability.