Several financial institutions, including banks like Mastercard, NatWest, Nationwide, and others, are participating in a pilot alongside Quant, focusing on a shared ledger settlement system. The pilot is set to run until the summer of 2024, during which the emphasis will be on assessing customer and business benefits, technical feasibility, and the legal framework. It is unclear whether the shared ledger is based on an existing blockchain network, but entities are also exploring the integration of tokenization services with their existing products. This experimentation phase aims to address various aspects and evaluate the potential of a shared ledger system for the financial industry.
Barclays, HSBC and Citi collaborate to test tokenized deposits in the UK
