UK Banks Test Tokenized Deposits for Remortgages and Online Payments

TLDR Barclays, Lloyds and NatWest completed what UK Finance called the world’s first interbank transactions using tokenized deposits. The banks carried out two remortgage transactions, while a separate group including HSBC tested a simulated online marketplace payment. Funds stayed locked until set conditions were met, a setup UK Finance says could lower fraud risks. Tokenized [...]

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