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UK banks press on with tokenised deposits after BoE stablecoin warning
Britain's biggest lenders are pushing ahead with plans to launch tokenised versions of customer deposits next year, a move that follows Bank of England Governor Andrew Bailey's plea to prioritise the technology over stablecoins. Tokenisation typically refers to creating digital representations of assets such as deposits, stocks and bonds that are stored on a blockchain. Proponents say they can make transacting faster, cheaper and safer. Banks including HSBC, NatWest and Lloyds have launched a pilot using tokenised deposits for payments via online marketplaces, industry group UK Finance said on Friday. BAILEY ... (full story)
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