UK Finance launches joint pilot project for tokenized sterling deposits (GBTD) in collaboration with major UK banks like Barclays, HSBC, and Santander. The project aims to explore benefits like better payment control and fraud prevention until mid-2026. Quant Network will provide the infrastructure for this initiative, building on its successful Regulated Liability Network project.

The tokenized deposits pilot coincides with the UK Financial Conduct Authority (FCA) finalizing its crypto regulatory framework, set to come into effect in 2026. UK Treasury policy notes distinguish between stablecoins, tokenized deposits, and electronic money. The FCA is accelerating crypto approvals in response to criticism, while the EU is implementing the Markets in Crypto-Assets (MiCA) regulation.

Read more at Cointelegraph: UK Finance Works With Quant For Tokenised Sterling Deposits