UK’s largest banks complete world’s first interbank transactions using tokenized deposits
Why now
Thesis: Bank digital cash edges from pilot toward real use
Catalyst to watch: More banks joining tokenized deposit networks
Main risk: Pilot stays isolated, no commercial scale
Why it matters
Interbank tokenized deposit settlement could cut clearing friction and cost, signaling bank-issued digital cash moving toward production use.
Details
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.
Sources
- coindesk · 2026-09-24 15:07 UTC