Seven UK banks test tokenized deposit payments... US TCH pushes for joint network
Original headline영국 7개 은행, 토큰화 예금 결제 시험…미국 TCH, 공동망 추진
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Seven UK banks have tested tokenized pound-denominated deposits for customer payments, including mortgage transactions and person-to-person purchases, with trials reaching the customer-facing payment stage, UK Finance said in a September announcement. Separately, US clearing house The Clearing House (TCH) said in June that it is working with 17 participating financial institutions to build interbank clearing and settlement for tokenized deposits and to connect that system to existing payment rails. The two efforts matter because they move tokenized deposits from concept toward live bank-to-bank and customer payment infrastructure in two major currencies. What to watch next is whether the UK pilots expand beyond mortgages and retail purchases into broader commercial payments, and whether TCH's 17-bank network sets a timeline for connecting tokenized settlement to legacy rails.
Muhabbit's AI wrote this summary in its own words from TokenPost's report and translated it from Korean. It can get details wrong, so check the source.
Named in this story
The Clearing House, UK Finance, Alessandro Hatami, Lloyds Banking Group