U.K. Finance has successfully concluded the experimental phase of a central bank digital currency (CBDC) and tokenization platform. The initiative aims to create a payment network powered by tokenization and programmable digital currency.
Regulated Liability Network
The RLN platform, designed to modernize financial market infrastructure, promises to create significant economic value and introduce new functions such as programmable payments. Tokenization, which involves digitizing real-world assets, is gaining global momentum.
Growing Demand for CBDC
CBDCs have captured the attention of governments globally. Surveys have shown that 94% of countries are actively exploring digital versions of their national currencies. Examples include the collaboration between Banque de France and Hong Kong Monetary Authority, as well as Taiwan's steady progress in CBDC development.
The U.K. Finance initiative for a CBDC and tokenization platform demonstrates significant potential for the modernization of the financial system and the transformation of banking practices.
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