Santander

Seven of the U.K.’s largest banks have completed customer transactions using tokenized British pound deposits on a shared platform built by Quant. The trial covered remortgage payments and a consumer purchase test, marking a step toward regulated bank money moving across institutions in tokenized form.

A group of 21 financial institutions plans to establish a company to support stablecoin issuance, starting with a U.S. dollar token for payments and digital asset settlement. The venture is expected to pursue compliance with U.S. and European frameworks while prioritizing a euro-denominated token for expansion.