365Crypto
Pilot for tokenized pounds
UK Finance launched a pilot for tokenized sterling deposits (GBTD). Six major banks are participating: Barclays, HSBC, Lloyds, NatWest, Nationwide, and Santander.
Digital pounds, same money
The pilot gives a digital version of commercial bank money in pounds. The goal is better payment control, fraud prevention, and faster settlements.
Powered by Quant Network
Quant Network provides blockchain infrastructure. They previously helped deliver the UK’s Regulated Liability Network, connecting major banks and financial firms.
Three main use cases
The pilot will test online marketplace payments, remortgaging processes, and wholesale bond settlement. Quant CEO Gilbert Verdian says it could transform how value moves and is managed.
Regulation on the horizon
The pilot comes as the UK FCA finalizes crypto rules, expected in 2026. Tokenized deposits remain under traditional banking frameworks, separate from MiCA regulations in the EU.
