Lloyds Bank completes UK's first tokenized deposit purchase of government bonds transaction

GateNews

2026-01-07 11:01:55

BlockBeats News, January 7th, according to CoinDesk, the UK’s third-largest bank Lloyds Banking Group announced the completion of the UK’s first transaction using tokenized deposits to purchase government bonds (Gilt Bonds), completed in cooperation with crypto trading platform Archax and Canton Network.

Lloyds Bank Transaction Banking Product Head Surath Sengupta stated that tokenized deposits, while offering advantages such as instant settlement, automatic protocols, and increased transparency, can still earn interest and remain within the deposit protection scheme of financial services compensation.

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