The UK is set to release the official NFT this summer

When we recently announced that Instagram was preparing for the arrival of NFTs on the platform, it was time to join the UK course.

British Treasury President Rishi Sunak has called on the Royal Mint to actually create the NFT (Funky Token in French) this summer. Royal Mint is a company responsible for printing coins in the UK.

The economy at the forefront of innovation

The Treasury has also announced plans to regulate the use of staple coins as a form of payment. A staplecoin is a cryptocurrency whose value is linked to the current currency, such as the pound, the euro, or the dollar. For example, 1 USDC is worth $ 1 (with the lowest fluctuations in the order of one penny).

The advantage of staplecoins is that they can enter the world of cryptocurrency (fast transactions, not subject to banks, etc.) without being subject to its speculative feature.

The Chancellor’s idea is to reaffirm that “the UK financial services sector has always been at the forefront of technology and innovation”, and that these latest results are part of a broader plan to make the UK a “global hub” for cryptocurrency technology.

We will provide you with more information about this NFT as soon as possible.

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Subject Adapted by CNETFrance

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