Overview

• Chancellor Rachel Reeves and Treasury Secretary Scott Bessent met in London with Coinbase, Circle, Ripple and executives from Bank of America, Barclays and Citi.
• Work under discussion centers on shared standards for stablecoins and a joint digital securities sandbox to let firms test blockchain services under regulatory oversight.
• The meeting was convened at short notice after an open letter from industry groups urged the UK to prioritize digital assets before President Trump’s state visit.
• British officials see alignment as a path to better U.S. market access and fresh investment, noting U.S. momentum from the GENIUS Act and eased banking frictions for crypto firms.
• No binding transatlantic agreement has been finalized, and participants described the effort as early stage with potential updates tied to this week’s high‑level political meetings.