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UK lenders to test tokenized sterling deposits in UK Finance pilot project

( September 26, 2025, 09:14 GMT | Official Statement) -- MLex Summary: UK lenders, including Barclays, HSBC, Lloyds Banking Group, NatWest, Nationwide, and Santander, will participate in a pilot project run by UK Finance to deliver the first UK live transactions of tokenized sterling deposits, the trade body said on Friday. The pilot will run until mid-2026. UK Finance said tokenized deposits, a digital representation of traditional sterling commercial bank money, retain the trust and regulatory protections of conventional deposits while offering benefits such as enhanced speed and fraud protection. Statement is attached....

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