Rishi Sunak orders Treasury to create government-backed NFT
The Metro says chancellor Rishi Sunak has asked the Royal Mint to create the UK government’s first ever NFT.
The non-fungible token will be ready ‘this summer’ and is part of a larger push to bring cryptocurrency assets into the mainstream.
It’s not yet clear what the NFT will consist of, but the Treasury said it plans to ‘ensure the UK financial services sector remains at the cutting edge of technology, attracting investment and jobs and widening consumer choice’.
As well as the forthcoming NFT, the chancellor unveiled plans that would allow so-called stablecoins to be used as payment in the UK.
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