Major UK banks execute world’s first interbank customer transactions using tokenized sterling deposits

# Major UK banks execute world’s first interbank customer transactions using tokenized sterling deposits

> Evidence tier: B1
> Evidence type: Independent digital asset media report
> Source: [CoinDesk](https://www.coindesk.com/business/2026/09/24/uk-s-largest-banks-complete-world-s-first-interbank-transactions-using-tokenized-deposits)
> Published: 2026-09-24
> Captured: 2026-09-25T17:12:09.088Z

## Source summary

CoinDesk reports seven U.K. banks—Barclays, HSBC, Lloyds, Monzo, Nationwide, NatWest and Santander—completed customer transactions using tokenized sterling deposits on a shared Quant platform. The tests included remortgage payments and a consumer marketplace purchase; the group said digital-asset settlement is a next test. This is a U.K. pilot, not a production service or a cross-border rollout.

## Why it matters

The pilot tests whether tokenized bank deposits can move between institutions and support conditional or customer-facing payments. The article describes U.K. transactions only; cross-border operation and production availability are not established.

## Key numbers

- **Participating U.K. banks:** 7

## Topics and entities

- Industry lane: Web3 & stablecoin payments
- Entities: Barclays / HSBC / Lloyds / Monzo / Nationwide / NatWest / Santander / Quant
- Web3 payments
- Payment infrastructure

## Evidence and credibility note

Independent CoinDesk report on a seven-bank U.K. trial. Tokenized deposits remain liabilities of issuing banks; the article describes a test and identifies digital-asset settlement as future work, not a live cross-border service.

Date evidence: Automatically verified from JSON-LD datePublished: 2026-09-24T15:07:18.571Z

## First-party corroboration

No directly corresponding A1 company announcement is currently linked.

## Original-source traceback

[Open the original CoinDesk report](https://www.coindesk.com/business/2026/09/24/uk-s-largest-banks-complete-world-s-first-interbank-transactions-using-tokenized-deposits)

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This is a structured Payments Hot Markdown source summary derived from external reporting. Use the original link above to read the publisher's article; copyright remains with the original publisher.