Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert & block trade
Convert crypto with one click and zero fees
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
Quant to Power UK’s Tokenized Sterling Deposit Project With Major Banks

Quant to Power UK’s Tokenized Sterling Deposit Project With Major Banks

CoinspeakerCoinspeaker2025/09/25 16:00
By:By Zoran Spirkovski Editor Hamza Tariq

Quant will provide the core technology for a UK pilot testing tokenized sterling deposits with banks like HSBC, Barclays, and Lloyds.

Key Notes

  • A key goal is to promote financial innovation while keeping payments secure within the regulated UK banking system.
  • The project will test real-world use cases, including reducing payment fraud, simplifying property transactions, and settling digital assets instantly.
  • The initiative aligns with the Bank of England's preference for tokenized deposits over stablecoins, which it views as a potential economic risk.

Blockchain infrastructure firm Quant QNT $89.35 24h volatility: 1.7% Market cap: $1.30 B Vol. 24h: $72.11 M has been selected to provide the core technology for a new financial market initiative focused on tokenized sterling deposits in the United Kingdom.

Industry group UK Finance leads the project in collaboration with several of the country’s largest lenders, including Barclays, HSBC, Lloyds Banking Group, and NatWest, and will run until mid-2026.

According to the official announcement , the project will test three transformative use cases to show clear benefits for the UK economy. The pilot will explore using tokenized money to reduce fraud in online marketplace payments, streamline property transactions during remortgaging, and accelerate the settlement of digital assets.

I'm delighted to announce that @quant_network has been selected to create the new payments infrastructure and bank technology of the UK's Tokenised Sterling Deposits (GBTD), a groundbreaking financial market infrastructure initiative led by UK Finance, in collaboration with major…

— Gilbert Verdian (@gverdian) September 26, 2025

Gilbert Verdian, Quant’s founder and CEO, suggested the project marks a key moment for the UK’s financial sector. He explained that the goal is to create a new type of programmable money to reshape how value is managed and transferred.

In a comment to Reuters, a managing director at UK Finance, Jana Mackintosh, said that the collaboration positions the UK to become a global leader in establishing standards for tokenized currency.

UK Banks Prioritize Tokenization

The push for tokenized deposits follows recent comments from the Bank of England’s (BoE) Governor, Andrew Bailey. He has publicly stated a preference for banks to experiment with tokenization rather than stablecoins, which he has warned could pull money out of the regulated banking system and potentially threaten financial stability.

While the BoE allows banks to experiment with tokenized deposits under existing rules, a decision on formal stablecoin regulation is not expected until the end of 2026.

The pilot will officially run until mid-2026, giving banks and regulators time to assess the technology’s performance. While the sources do not specify the exact steps after the pilot, its results are expected to shape the UK’s financial future.

This formal exploration of tokenized money comes as the private sector also deepens its involvement, with some UK firms adding Bitcoin BTC $108 994 24h volatility: 2.1% Market cap: $2.17 T Vol. 24h: $71.04 B to their corporate treasuries.

next
0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like