26 Sep 2025 | 5 Mins Read
UK banks to push ahead with deposit tokenisation
Flipitmoney
Britain's biggest lenders HSBC, NatWest, Lloyds, and Barclays are launching a pilot using tokenised deposits for payments via online marketplaces, citing benefits of faster, cheaper, and safer transactions. This move follows Bank of England Governor Andrew Bailey's plea to prioritize tokenization over stablecoins, which Bailey warned could threaten financial stability.