UK banks test tokenised deposits with real money
🏦 A group of major UK banks, including Barclays, HSBC UK, Lloyds, NatWest, Nationwide, Santander and Monzo, has participated in the Great British Tokenised Deposit initiative, testing programmable bank deposits on shared digital infrastructure.
🔗 Two live remortgage transactions were completed using real money, with deposits locked and automatically released once transaction conditions were met. A separate P2P payment test also moved funds between accounts, although no physical goods changed hands.
💷 Unlike private stablecoins, these tokens remain liabilities of commercial banks and operate within the existing banking framework. The project shows how banks are testing programmable features such as conditional locking and release of funds within traditional financial infrastructure.
📌 The current scale remains small and does not replace existing payment systems. The next key milestone is the planned settlement of three digital bonds using tokenised deposits in Q1 2027.
#DigitalFinance $BTC
🏦 A group of major UK banks, including Barclays, HSBC UK, Lloyds, NatWest, Nationwide, Santander and Monzo, has participated in the Great British Tokenised Deposit initiative, testing programmable bank deposits on shared digital infrastructure.
🔗 Two live remortgage transactions were completed using real money, with deposits locked and automatically released once transaction conditions were met. A separate P2P payment test also moved funds between accounts, although no physical goods changed hands.
💷 Unlike private stablecoins, these tokens remain liabilities of commercial banks and operate within the existing banking framework. The project shows how banks are testing programmable features such as conditional locking and release of funds within traditional financial infrastructure.
📌 The current scale remains small and does not replace existing payment systems. The next key milestone is the planned settlement of three digital bonds using tokenised deposits in Q1 2027.
#DigitalFinance $BTC
