Lloyds to Roll Out Tokenized Deposits by 2027, CEO Nunn Says

Lloyds Banking Group Plc has piloted tokenized deposits across the UK and is gearing up to roll them out in the first half of 2027, according to Chief Executive Officer Charlie Nunn.

The technology could “redesign significant parts of financial services,” Nunn said Thursday at the Financial Times Global Banking Summit.

Banks around the world are at various stages of experimenting with and introducing digital-asset offerings. They use blockchain technology, which is a more secure and encrypted way of maintaining and exchanging digital records of transactions. Nunn urged British watchdogs and policymakers to keep pace with global developments in ...