Tokenization: the Bank of England, Singapore and Thailand connect blockchain and traditional exchange

The Bank of England, the Monetary Authority of Singapore and the Bank of Thailand have completed a joint test linking blockchain-based settlement with conventional foreign-exchange rails. The cross-border experiment connected tokenised assets to traditional payment infrastructure, with London targeting a fully operational service by 2028. The collaboration matters because it moves tokenisation from isolated pilots toward real FX settlement between major central banks and financial centres. Details on transaction volumes, participating currencies and private-sector partners were not disclosed in the report. What to watch next is whether the three central banks publish technical results and set a concrete roadmap for the 2028 launch.