Quant Snaps Up Role in UK’s Tokenised Sterling Project, Banks Back Move
The post Quant Snaps Up Role in UK’s Tokenised Sterling Project, Banks Back Move appeared on BitcoinEthereumNews.com. TLDR: Quant will provide programmable money infrastructure for live tokenised sterling deposit transactions until mid-2026. The project will test payments, remortgaging, and wholesale bond settlement using tokenised commercial bank deposits. UK Finance leads the initiative with banks including Barclays, HSBC, Lloyds, NatWest, Nationwide, and Santander. Quant’s tech will connect RTGS, Faster Payments, Open Banking, and tokenised deposit platforms for live testing. The UK is taking a big step in modernising its payment rails. A new initiative is testing tokenised commercial bank deposits with backing from major banks. The project aims to explore faster settlement, reduce fraud, and streamline key financial processes. It is scheduled to run through mid-2026 and will bring real transactions under live conditions. This move signals growing confidence in programmable money technology for critical financial infrastructure. UK Finance and Major Banks Back Quant Tokenised Deposits According to a press release, UK Finance is leading the effort with partners including Barclays, HSBC, Lloyds, NatWest, Nationwide, and Santander. The group selected Quant to provide the technology powering tokenised sterling deposits (GBTD). EY and Linklaters will support the initiative with audit and legal frameworks. Tokenised deposits are digital versions of commercial bank money that keep the same regulatory protection as traditional deposits. They are designed to offer programmability, faster transactions, and fraud prevention tools. Quant’s platform will integrate with bank ledgers, the Bank of England’s RTGS system, Faster Payments, and Open Banking APIs. The initiative builds on the first phase of the Regulated Liability Network (RLN) that ran in 2024. Quant’s earlier work focused on interoperability and programmability across systems. The company’s technology will now handle live payments to prove how tokenised deposits function in production environments. 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…
The post Quant Snaps Up Role in UK’s Tokenised Sterling Project, Banks Back Move appeared on BitcoinEthereumNews.com.
TLDR: Quant will provide programmable money infrastructure for live tokenised sterling deposit transactions until mid-2026. The project will test payments, remortgaging, and wholesale bond settlement using tokenised commercial bank deposits. UK Finance leads the initiative with banks including Barclays, HSBC, Lloyds, NatWest, Nationwide, and Santander. Quant’s tech will connect RTGS, Faster Payments, Open Banking, and tokenised deposit platforms for live testing. The UK is taking a big step in modernising its payment rails. A new initiative is testing tokenised commercial bank deposits with backing from major banks. The project aims to explore faster settlement, reduce fraud, and streamline key financial processes. It is scheduled to run through mid-2026 and will bring real transactions under live conditions. This move signals growing confidence in programmable money technology for critical financial infrastructure. UK Finance and Major Banks Back Quant Tokenised Deposits According to a press release, UK Finance is leading the effort with partners including Barclays, HSBC, Lloyds, NatWest, Nationwide, and Santander. The group selected Quant to provide the technology powering tokenised sterling deposits (GBTD). EY and Linklaters will support the initiative with audit and legal frameworks. Tokenised deposits are digital versions of commercial bank money that keep the same regulatory protection as traditional deposits. They are designed to offer programmability, faster transactions, and fraud prevention tools. Quant’s platform will integrate with bank ledgers, the Bank of England’s RTGS system, Faster Payments, and Open Banking APIs. The initiative builds on the first phase of the Regulated Liability Network (RLN) that ran in 2024. Quant’s earlier work focused on interoperability and programmability across systems. The company’s technology will now handle live payments to prove how tokenised deposits function in production environments. 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…
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