# UK Banks Run First Tokenized Deposit Transactions

> UK banks complete first live tokenized deposit transactions.
- Title: UK Banks Run First Tokenized Deposit Transactions · Pymnts
- Summary: UK banks complete first live tokenized deposit transactions. Seven UK banks executed first live customer transactions using tokenized sterling deposits…
- Keywords: banks, tokenized, deposits, gbtd, uk finance, payments, sterling, business, finance, Run, First, Deposit
- Source: Pymnts — https://pymnts.com/blockchain/2026/uk-banks-execute-first-transactions-with-tokenized-deposits
- Author: PYMNTS
- Published: 2026-09-24T23:48:57+00:00
- Read time: 1 min
- Topics: uk, banks, tokenized, deposits, gbtd, uk finance, payments, sterling, business, finance
## First Live Transactions
Seven u.k. banks completed first live customer transactions using tokenized sterling deposits through the great british tokenised deposit initiative.
## GBTD Participants
The initiative includes Barclays, HSBC UK, Lloyds Banking Group, Monzo, Nationwide, NatWest, and Santander.
## Tokenized Platform
Quant developed the gbtd platform as a shared uk industry infrastructure for tokenized commercial bank money.
## Remortgage Example
Two remortgage completions locked deposit funds and automatically released at completion, reducing manual checks and settlement delays.
## Consumer Marketplace
A consumer purchased an item from a private seller with programmable tokenized deposits that locked funds until goods were exchanged.
## Next Steps
GBTD participants plan further pilots to link tokenized customer money with digital assets in coming months.
## Key takeaway

Seven UK banks executed first live customer transactions using tokenized sterling deposits through the GBTD initiative, reducing settlement delays and transaction risks.