What HM Treasury's Payments Consultation Means for Stablecoins and Open Banking

HM Treasury published a consultation on 14 July 2026 proposing to integrate stablecoins and tokenised deposits into a single payments regulatory framework alongside fiat money, and to establish statutory rights of access for variable recurring payments (VRP) under FCA oversight. The reforms aim to reduce regulatory fragmentation, prevent dual authorisation burdens, and create space for agentic AI payment systems.

This Wire brief sits within Fusion42's coverage of Fintech. Wire is Fusion42's founder-focused intelligence feed: each story is connected to the funds and startups it names — every one with a live profile on Raise or Scout — so founders can follow the capital and the momentum behind the headline rather than just the headline itself. Wire analysis is one of the live surfaces Arthur reasons over.