Trade group UK Finance hailed experiments on the Regulated Liability Network as a success but called for further talks with regulators to develop the system.
A blockchain-based ledger for payments and settlements could eventually help the United Kingdom’s finance industry, which processes $14.5 trillion worth of payments a year, says the country’s finance trade body.
The Sept. 17 comments from UK Finance came after the end of what it said was a successful experimental phase of the Regulated Liability Network (RLN), a blockchain-based ledger for central bank digital currencies (CBDC) and tokenized assets.
UK Finance said the RLN could support innovation and deliver new financial functions like programmable payments as it summarized findings from an experimentation phase of the network with 11 banks.
