The FCA has laid the foundations for a new conduct and prudential regime for stablecoin issuers and custodians in two of its recent consultation papers, CP25/14 and CP25/15. This briefing is designed to highlight some of the key requirements for stablecoin issuers in CP25/14 which govern: the creation, offer and redemption of qualifying stablecoin, issuer disclosure requirements, and safeguarding of backing assets