Quant selected to power UK tokenised sterling deposits network
Quant, alongside R3, was chosen to build the technology backbone for the UK's Regulated Liability Network, a platform designed to support tokenised sterling deposits and interoperable payments across banks.
During its experimentation phase, RLN will use Quant's Overledger platform to deliver programmability and API orchestration, enabling tokenisation of bank deposits and interaction across ledger systems.
Launched in April 2024, the RLN is a joint initiative by UK Finance involving major banks, including Barclays, HSBC, Lloyds, NatWest, Santander, and Visa. Quant provides the orchestration and API layer, while R3 develops shared ledger infrastructure via its Corda platform. The group also includes DXC Technology and Coadjute.
The platform facilitates payments, e-commerce, tokenised bond issuance, cards integration, and real estate settlement workflows. The RLN project tests how existing banking systems can interface with tokenised liabilities and programmable money.
The experimentation phase concluded with a report published in September 2024 confirming the project successfully demonstrated core functions, including locking and unlocking funds and interoperable token issuance. UK Finance noted benefits such as potential fraud reduction, improved home purchase settlement workflows, and lower costs from failed payments.
Launched in April 2024, the RLN is a joint initiative by UK Finance involving major banks, including Barclays, HSBC, Lloyds, NatWest, Santander, and Visa. Quant provides the orchestration and API layer, while R3 develops shared ledger infrastructure via its Corda platform. The group also includes DXC Technology and Coadjute.
The platform facilitates payments, e-commerce, tokenised bond issuance, cards integration, and real estate settlement workflows. The RLN project tests how existing banking systems can interface with tokenised liabilities and programmable money.
The experimentation phase concluded with a report published in September 2024 confirming the project successfully demonstrated core functions, including locking and unlocking funds and interoperable token issuance. UK Finance noted benefits such as potential fraud reduction, improved home purchase settlement workflows, and lower costs from failed payments.
Gilbert Verdian, CEO of Quant, described tokenised money and programmability as key to evolving payments and settlement infrastructure. Quant's Overledger platform supports interoperability across blockchains and traditional systems, making it suitable for integrating legacy banking infrastructure with tokenised assets.
The RLN project enables more flexible movement and programmability of money within existing regulatory frameworks. Banks participating in the trial can issue tokens representing their deposit liabilities while maintaining compliance with current banking regulations.
Quant has also been selected as a pioneer partner in the European Central Bank's Digital Euro project, where it will contribute to programmability and wallet-layer features. The company's involvement in both UK and EU digital currency initiatives positions it as a key infrastructure provider for central bank digital currency development.
The RLN project enables more flexible movement and programmability of money within existing regulatory frameworks. Banks participating in the trial can issue tokens representing their deposit liabilities while maintaining compliance with current banking regulations.
Quant has also been selected as a pioneer partner in the European Central Bank's Digital Euro project, where it will contribute to programmability and wallet-layer features. The company's involvement in both UK and EU digital currency initiatives positions it as a key infrastructure provider for central bank digital currency development.
Author
Sebile Fane cut her teeth in blockchain by building tiny NFT experiments with friends in her living room, long before the buzzwords took hold. She’s driven by a curiosity for the human stories behind smart contracts — whether it’s a small-town artist minting her first token or a DAO voting on climate grants — and weaves technical insight with genuine empathy.
