Major UK Banks Complete World's First Interbank Tokenized Deposit Test

Key Facts

1Barclays, NatWest, and HSBC completed the world's first interbank transactions using tokenized deposits for remortgages and marketplace payments.

In a move reflecting the accelerating adoption of financial technology in global hubs, a group of major UK lenders has completed the world's first interbank transactions using tokenized deposits. According to reports, Barclays, NatWest, and HSBC executed these live transactions to settle remortgage obligations and marketplace payments, marking a significant shift from internal pilots to the practical use of bank-issued digital cash.

The initiative aims to modernize payment systems and settlement processes by utilizing blockchain technology for commercial bank money, potentially enhancing operational efficiency across the sector. Per market data, this innovation coincides with steady trading levels for the participating institutions, with Barclays (BCS) closing at $24.29 and NatWest (RBSPF) at $8.97 as of September 23, 2026.

Investors are now watching for further expansion of these tokenized systems into broader asset classes and retail payment structures. Based on price levels at the close of September 23, 2026, BCS maintains a daily range between $24.28 and $24.71, while RBSPF fluctuates between $8.86 and $9.07, as the market awaits further regulatory guidance on digital asset standards in the UK.