UK Banks Complete First Tokenized Deposit Transactions

Seven of the UK's largest banks, including Barclays, HSBC, Lloyds, Monzo, Nationwide, NatWest and Santander, completed the world's first customer transactions using tokenized British pound deposits on a shared platform built by Quant. The trial covered remortgage payments and a consumer purchase, testing whether regulated bank money can move between institutions and support retail payments.