UK Finance pilots tokenized sterling deposits with six major banks
UK Finance has launched a pilot project for tokenized sterling deposits (GBTD) in collaboration with Barclays, HSBC, Lloyds, NatWest, Nationwide and Santander.
The initiative aims to create a digital representation of British pound commercial bank money. Running until mid-2026, the pilot will explore payment innovations, fraud prevention and faster settlement.
Key use cases include marketplace payments, remortgaging processes and wholesale bond settlement. Quant CEO Gilbert Verdian said the project enables new forms of programmable money that could transform value transfer.
BlackRock chases Bitcoin yield with new ETF proposal
BlackRock has filed to register a Delaware trust company for its proposed Bitcoin Premium Income ETF. The product would sell covered call options on Bitcoin futures to generate yield while limiting upside potential.
Bloomberg ETF analyst Eric Balchunas described it as a sequel to BlackRock’s iShares Bitcoin ETF (IBIT), which has amassed more than $60.7 billion in inflows since its January 2024 debut.
Hashdex expands US crypto ETF under SEC standards
Hashdex expanded its Nasdaq-listed Crypto Index US ETF (NCIQ) to include XRP, Solana and Stellar alongside Bitcoin and Ether. The move follows the SEC’s adoption of generic listing standards for crypto ETFs.
The new rules allow faster approvals for cryptocurrencies considered commodities or tied to futures on regulated exchanges. Analysts expect a surge in ETF filings, giving traditional market investors broader exposure to digital assets.
