Blockchain firm Millicent receives UK government funding

UK-based blockchain company Millicent has received government funding in the form of the UK Research and Innovation (UKRI) Innovate UK Smart Award. The project aims to assist the country's efforts to launch a central bank digital currency. The company said it has become the first stablecoin and CBDC-oriented project to receive funding directly from the U.K. government. Innovate UK's assessors commented that Millicent could "change the way we bank and consume" as it "could have a very significant impact on the UK – financially, socially and technologically."