Research
BoE: Stablecoin Bull or Bear?
A Range exclusive report on the Bank of England's stablecoin proposal - what it gets right, what it risks, and what it means for the future of digital money in the UK.
Max Grabner
·
Nov 27, 2025
The Bank of England's recent proposal for regulating systemic stablecoins marks a critical moment for the future of digital money in the UK. From £20,000 per-user holding caps to restrictions on issuer reserves, the consultation paper has already drawn heavy criticism from crypto founders and politicians alike. But the broader implications - on monetary stability, liquidity frameworks, and institutional integration - demand closer analysis.
In this exclusive Range report, we break down the Bank of England's consultation on sterling-denominated systemic stablecoins, explain the rationale for the dual oversight regime with the FCA, and assess whether the proposal poses a genuine risk to innovation or a long-overdue framework for mainstream adoption.
Key insights include:
Why the BoE's reserve model could challenge stablecoin business models
How liquidity backstops and central bank access might reshape risk
What the cap limits really mean for users and issuers
Download the full report to get our detailed breakdown, including quotes from policymakers, impact assessments, and a sober look at what’s at stake.
About Range
Range is the leading intelligence and risk platform for cross-chain stablecoin infrastructure, trusted by the Solana Foundation, Circle, Stellar, dYdX, Squads and more. We provide the compliance, risk, and routing systems behind the next generation of onchain payments and applications.
Used by fintechs, protocols, and DeFi teams, Faraday is our transaction engine that enables cross-chain routing, compliance enforcement, and real-time risk monitoring through a single API. Our Stablecoin Explorer at explorer.money - the first of its kind - tracks almost 200 stablecoins across all chains and bridges.
We also provide the security layer behind some of the most sensitive infrastructure on Solana. Our Solana Transaction Security Standard, protects programs, accounts and treasuries worth over $30b, while our Risk API and Onchain Risk Verifier enable privacy-focused apps on Solana to stay compliant.
Whether you're building programmable treasuries or privacy flows, Range helps ensure they're safe, compliant, and ready for scale.
