UK Banks Complete First Interbank Transactions Using Tokenized Deposits.
Seven major UK banks, including Barclays, HSBC, Lloyds, Monzo, Nationwide, NatWest and Santander, have completed live customer transactions using tokenized sterling deposits through the Great British Tokenised Deposit initiative.
The transactions included remortgage settlements and a customer-to-customer payment, demonstrating how bank deposits can move across shared blockchain infrastructure with funds automatically released when predefined conditions are met. Unlike stablecoins, tokenized deposits remain liabilities of regulated banks, retaining the legal protections associated with conventional deposits.
The banks plan to establish a dedicated company and governance framework, with three digital bonds targeted for issuance in Q1 2027 using tokenized deposits for trading and settlement.
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Seven major UK banks, including Barclays, HSBC, Lloyds, Monzo, Nationwide, NatWest and Santander, have completed live customer transactions using tokenized sterling deposits through the Great British Tokenised Deposit initiative.
The transactions included remortgage settlements and a customer-to-customer payment, demonstrating how bank deposits can move across shared blockchain infrastructure with funds automatically released when predefined conditions are met. Unlike stablecoins, tokenized deposits remain liabilities of regulated banks, retaining the legal protections associated with conventional deposits.
The banks plan to establish a dedicated company and governance framework, with three digital bonds targeted for issuance in Q1 2027 using tokenized deposits for trading and settlement.
$BTC $QNT #BTC Price Analysis# #Macro Insights# #Crypto
