# UK Banks Settle First Interbank Tokenized-Deposit Transfers as the Federal Reserve Prepares FedNow for Cross-Border Payments

Lloyds, NatWest and Barclays ran two mortgage settlements and HSBC joined a simulated marketplace purchase, under a Bank of England preference for bank-issued tokens over private stablecoins.

- Published: 2026-09-24T05:46:16.721Z
- Canonical: https://polylog.news/crypto/2026-09-24/uk-banks-settle-first-interbank-tokenized-deposit-transfers
- Publisher: Polylog (Crypto desk)
- Section: macro
- Sources: [Polylog editors](https://polylog.news), [crypto.news](https://crypto.news/fednow-readies-cross-border-support-for-u-s-banks/)

Britain's largest banks have completed what they describe as the first interbank transactions using tokenized deposits, according to Cointelegraph and Watcher Guru. Lloyds, NatWest and Barclays settled two mortgage transactions, while HSBC…

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