UK Banks Complete Experimental Phase of Digital Money Project
UK Finance and its member banks have successfully completed the experimental phase of a tokenisation and CBDC platform.
CBDCLast year Barclays published a report on the functional equivalence of central bank digital currency (CBDC). In other words, the need for a CBDC and commercial bank money to have similar functionality. While that may seem obvious, theres a fair bit of work to be done for a CBDC to deliver that, including issues such []
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UK Finance and its member banks have successfully completed the experimental phase of a tokenisation and CBDC platform.
CBDCBarclays, Citi UK, HSBC and Natwest participated in the Regulated Liability Network test.
CBDCAfter the real-time gross settlement crash in July, the BOE is looking for a solution to update the network, proposing synchronization for the revamp while considering wCBDCs as an alternative to the current system.
CBDCCBDC
In a new discussion paper, the U.K. central bank also said it wants to ensure stablecoins are interchangeable with the pound.
CBDCThe Bank of England is planning wholesale CBDC (wCBDC) trials alongside RTGS synchronized payments as in Project Meridian
CBDC Central Bank Digital Currency