UK Banks Pilot Tokenized Sterling Deposits

In crypto today, UK Finance announced the launch of a pilot for tokenized sterling deposits (GBTD) in partnership with six major banks: Barclays, HSBC, Lloyds Banking Group, NatWest, Nationwide, and Santander. This initiative aims to digitize traditional British pound commercial bank money and will explore its benefits for customers and the economy until mid-2026. Key tests will include online marketplace payments and wholesale bond settlements. Meanwhile, BlackRock has taken steps to file a Bitcoin Premium Income ETF, designed to sell covered call options on Bitcoin futures, which would provide income while sacrificing potential upside. Additionally, Hashdex has included XRP, Solana, and Stellar in its US crypto index ETF, following recent SEC changes to listing rules. These developments signal a significant shift towards more comprehensive integration of cryptocurrencies in financial markets.

Source 🔗