Quant to Deliver UK Tokenised Deposit Infrastructure
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BTCCSquare news:
Quant has been selected by UK Finance and a consortium of major banks—including Barclays, HSBC, and Lloyds—to build the backbone of the UK's tokenised deposit initiative. The project, running through mid-2026, aims to revolutionize payments, settlement, and fraud prevention using blockchain-based commercial bank money.
The technology will enable programmable transactions across traditional banking systems and emerging digital platforms. Three key use cases are targeted: reducing fraud in online marketplaces, streamlining remortgaging, and enhancing wholesale transactions. Tokenised deposits promise regulatory compliance paired with the efficiency of distributed ledger technology.
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