The UK Finance, a trade organization that represents more than 300 financial services in the United Kingdom, has launched a joint pilot project for tokenized Sterling Deposit (GBTD).
The trade team started the pilot phase for the tokenized deposit project, aimed at providing a digital representation of the British Pound’s commercial bank’s traditional money, IT announced on Friday.
The pilot was launched in collaboration with six major banks operating in the UK, including Barclays, HSBC, Lloyds Banking Group, Natwest, Nationwide and Santander.
UK finance plans to run the pilot until mid-2026 and aim to explore benefits to the UK’s customers, businesses and economies, which targets more control over payments, avoiding fraud and better settlement processes.
Volume network to provide infrastructure
UK Finance’s GBTD Infrastructure Network volumea UK-headquarter platform that specializes in Interoperability of blockchain.
Quant’s involvement constitutes successful delivery of the first stage of the Regulated Liability Network (RLN), a UK -led initiative for the Ledger -based financial -based market infrastructure, UK financial launched in 2024.
The RLN project is engaged to all six banks who participated in the GBTD initiative, along with other major financial institutions, including Citi, MasterCard, Standard Chartered, Virgin Money and Visa.
Three main cases in use
Among the usage cases, the GBTD project will test three main areas: online market payments, remortgaging and bond remorting processes.
According to the volume of founder and CEO Gilbert Verdian, the project is beyond improving payments and about enabling new forms of programmed money “Introduction that will change how the value has been transferred and managed.”
“Our involvement emphasizes quantity leadership in digital finances, as we work next to the leading UK institutions to develop infrastructure infrastructure tomorrow,” Verdian said.
UK FCA to launch crypto regulations in 2026
UK Finance’s tokenized deposits pilot launched in the middle of the Financial Conduct Authority (FCA) ending the Crypto regulation framework, with the entire regime reported Looking forward to be realized in 2026.
In April 2025, the UK Treasury Na -Published A policy note in the “future regulation of financial service regulation for crypto assets,” which features a clear difference between qualified stablecoin and tokenized deposits and electronic currency.
Related: UK to strengthen the relationship with us to crypto objects: Report
According to In a Financial Times report on Sunday, the FCA accelerated the approval of the crypto in response to recent criticism, as the UK inches closer to adopting a full regulation framework next year.
Meanwhile, the European Union continues to advance the application of Crypto-Assets markets (MICA) The regulation, which entered full strength in late 2024. While widely controlled by Mika Stay Managed under traditional banking and deposits of frameworks.
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