UK Banks Don Launch Digital Pound Pilot for Tokenised Sterling
UK Finance and six big UK banks don start two-year digital pound pilot for tokenised sterling deposits wey go last till mid-2026. Powered by Quant Network QNT interoperability platform, the blockchain pilot go dey test programmable money for e-commerce payments, mortgage switching, and wholesale bond settlements. E build on top 2024 Regulated Liability Network trial with Citi, Mastercard, Standard Chartered, and Visa, plus e follow UK Treasury digital gilt (DIGIT) and LSEG Digital Markets Infrastructure launch. The pilot wan modernise UK banking, reduce fraud, make transactions fast, and make way for regulated digital pound. Traders suppose watch as demand for token accounting dey increase and as interoperability tokens fit make money.
Bullish
Di pilot dey show say di institution dem dey support tokenised assets and programmable money more more. For short term, di news fit no too get effect as di digital pound never dey trade and di pilots still dey. But for long term, e good: di project fit make demand for interoperability tokens like QNT rise and make di use of tokenised yields plus on-chain settlements quick, e go improve tokenised asset system and make market trust programmable money platforms more.