Quant Powers UK Pilot: Tokenized Sterling by Top Banks
Quant Network (QNT) has been selected by UK Finance to provide core technology for a pilot project testing tokenized sterling deposits with major banks including Barclays, HSBC, Lloyds and NatWest. The initiative will run until mid-2026 and explore three key use cases for tokenized sterling: reducing online payment fraud, streamlining remortgaging transactions and accelerating digital asset settlement. Backed by the Bank of England’s preference for tokenized deposits over stablecoins, the project aims to drive financial innovation within the regulated UK banking system. Results from the pilot are expected to shape future standards for programmable money and boost institutional adoption of blockchain-based payment infrastructure.
Bullish
The launch of a UK pilot for tokenized sterling deposits driven by major banks and backed by the Bank of England signals growing institutional trust in blockchain-based payment systems. Similar initiatives—such as U.S. banking trials on tokenized dollars—prompted positive market reactions and increased demand for underlying network tokens. In the short term, QNT and other tokenization-related assets may see heightened trading activity as traders reposition for pilot milestones. Over the long term, standardized programmable money infrastructure could expand institutional adoption, supporting a bullish outlook for blockchain platforms facilitating tokenization.