Bank of England Teams Up with Multiple Companies for Distributed Ledger Settlement Trial

BlockBeats News, February 11th, the Bank of England has officially launched the "Synchronisation Lab" pilot project, conducting a six-month experiment with non-real funds to test the possibility of synchronizing central bank digital currency with tokenized assets for atomic settlement, thereby modernizing the UK's Real-Time Gross Settlement (RTGS) infrastructure. The Bank of England has selected 18 participating institutions, including Chainlink, Swift, LSEG, and other well-known enterprises and fintech companies. Chainlink will be responsible for testing a decentralized solution to achieve synchronous settlement of central bank digital currency with securities on a distributed ledger, while other participants will focus on diverse use cases such as tokenized government bonds, conditional payments, collateral optimization, foreign exchange settlement, and digital currency issuance.