Bank of England (UK central bank) picks Chainlink (blockchain oracle network) to test atomic settlement (instant, indivisible transfer) between tokenized assets (blockchain-based representations) and central bank money
The Bank of England will begin a six-month distributed ledger experiment in spring 2026 to test RTGS interoperability for pound and tokenized asset settlement with 18 participants, including Chainlink and UAC Labs.
The Bank of England is set to launch a six-month industry experiment in spring 2026 to explore settlement between the pound and tokenized assets using distributed ledger technology. The program will involve 18 participants testing interoperability with the UK’s Real-Time Gross Settlement (RTGS) system, aiming to enhance efficiency and security of settlements. Notable participants include blockchain oracle network Chainlink and technology firm UAC Labs. This initiative is part of the central bank’s broader effort to modernize payment infrastructure through tokenization and advanced ledger systems.
- Atomic settlement: Delivery and payment occur in a single, indivisible transaction, reducing settlement risk.
- Tokenized assets: Traditional or digital assets represented as tokens on a blockchain to enable programmability and round-the-clock transfer.
- Oracle network: A decentralized system that supplies off-chain data to blockchains and triggers smart contracts (self-executing blockchain code).