Seven major UK banks have completed the first live transactions using tokenized sterling deposits on shared infrastructure. Barclays, HSBC UK, Lloyds Banking Group, Monzo, Nationwide, NatWest and Santander participated in this pilot project which uses real commercial bank deposits, not stablecoins or a digital pound issued by the Bank of England. The tests include person-to-person transfers and remortgage transactions, aiming to prove that regulated bank deposits can gain the programmability of blockchain assets while retaining their legal protections.
Source: Read the original article
