UK’s largest banks complete world’s first interbank transactions using tokenized deposits
Barclays, NatWest, and HSBC and others used tokenized deposits for remortgages and a marketplace-payment test, taking bank-issued digital cash beyond a single institution.
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Summary
- Seven of the U.K.’s largest banks completed the world’s first customer transactions using tokenized British pound deposits on a shared platform built by Quant.
- The trial included remortgage payments and a consumer purchase, testing whether regulated bank money can move between institutions and support retail payments.
- Tokenized deposits remain liabilities of issuing banks and retain conventional deposit protections, and the group will next test their use in settling digital assets.
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As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.
As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.
Why it matters:
As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.
