Frontier AdoptionEvidence-graded tracking of what's actually live

Deployments · platform by Lloyds Banking Group

Lloyds tokenised sterling deposits on Canton

Lloyds Bank issued tokenised sterling deposits on the Canton Network, running its own validator node, and in January 2026 Lloyds Bank Corporate Markets used them to buy a tokenised gilt from Archax, which then moved the cash back into its ordinary Lloyds account. Lloyds called it a pilot and the first UK issue of tokenised deposits on a public blockchain. No further Canton transactions had been reported by October 2026; Lloyds' later live tokenised-deposit payments run through the separate GBTD initiative.

AnnouncedProof of conceptPilotLive (limited)Live (scaled)

Pilot since 7 Jan 2026[1] — Single pilot transaction; no value disclosed. · Reviewed 24d ago

Assets
Bank deposit[1]
Tokenised sterling deposits issued by Lloyds Bank
Networks
Canton Network Public, permissioned[1]
Use cases
Delivery versus payment (DvP)[1]
Jurisdictions
United Kingdom

Participants

Timeline

  1. Happened 7 Jan 2026 · First transaction · recorded 11 Oct 2026
    Lloyds Bank Corporate Markets buys a tokenised gilt from Archax using Lloyds tokenised deposits on Canton.[1]

Sources

  1. [1]Lloyds Bank Makes First Gilt Purchase With Tokenised Deposits — Markets Media, Jan 2026. Accessed 11 Oct 2026.C
  2. [2]Lloyds Bank and Archax buy a gilt on a public blockchain using tokenised deposits — Future of Finance, 6 Jan 2026. Accessed 12 Oct 2026. Year not printed on the page; dated 6 January, updated 23 February. No transaction value disclosed..C

Spotted something out of date or missing? Suggest a correction, ideally with a source.