The Bank of England is collaborating with several companies to conduct distributed ledger settlement tests.

PANews reported on February 11th, citing Cointelegraph, that the Bank of England has launched an industry pilot program to explore simultaneous settlement of the pound sterling and tokenized assets using distributed ledger technology. This "Synchronization Lab" program will allow 18 institutions to test settlement mechanisms between their next-generation RTGS core ledger and external distributed ledger platforms in a non-real-time environment. The six-month pilot, scheduled to launch in spring 2026, aims to assess the interoperability of central bank money and tokenized assets. Participants include Chainlink, UAC Labs, and Ctrl Alt, who will test use cases such as decentralized simultaneous settlement and payment delivery of tokenized securities. The Bank of England stated that the results of the experiment will be used to refine the synchronous functionality design of its RTGS system.