UK Finance successfully completes the Regulated Liability Network’s experimentation phase, demonstrating its potential to modernize the financial system and unlock new functionalities.
Bollywoodfever: UK Finance, alongside Quant, R3, DXC Technology, and Coadjute, has successfully completed the experimentation phase of the Regulated Liability Network (RLN), which aims to revolutionize the UK’s financial infrastructure.
The RLN integrates central bank money, commercial bank money, and electronic money into a shared ledger, with the goal of modernizing systems and enabling tokenized assets.
Major financial institutions like Barclays, HSBC, Citi, Mastercard, Visa, and others participated in the experiment, which tested various use cases through a unified API.
These trials demonstrated that the RLN could provide significant economic value and unlock new functionalities such as programmable payments and fund management tailored to different use cases.
The report also highlighted that UK regulation is versatile enough to support the RLN’s operations, simplifying financial interactions by enabling firms to connect through a common network interface.
UK Finance’s Managing Director of Payments, Innovation, and Operational Resilience, Jana Mackintosh, emphasized the importance of collaboration between the private sector and regulators to ensure the success of future financial technologies.
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