World & BusinessUK banks reportedly complete world's first interbank transfers using tokenised deposits
Reuters reports that Britain's biggest banks moved money between themselves using tokenised deposits—a blockchain-based version of commercial bank money.
TLDR
Britain's biggest banks have completed what Reuters describes as the world's first interbank transactions using tokenised deposits. These represent commercial bank money on a blockchain. Reuters says proponents view them as a safer alternative to stablecoins.
UK banks reportedly complete world's first interbank transfers using tokenised deposits
Reuters reports that Britain's biggest banks moved money between themselves using tokenised deposits—a blockchain-based version of commercial bank money.
TLDR
Britain's biggest banks have completed what Reuters describes as the world's first interbank transactions using tokenised deposits. These represent commercial bank money on a blockchain. Reuters says proponents view them as a safer alternative to stablecoins.