Bank of England Collaborates To Process Payments Via Blockchain

Institutional adoption is key for crypto to be accepted by mainstream finance. This week, we have seen the @Bank of England collaborating with @Fnality, a blockchain-based wholesale payments firm, to complete a “world’s first” in financial settlements. 

As the UK cements itself as a global crypto hub, it marks another major milestone in the journey.  Prominent global banks including Lloyds Banking Group, Santander and UBS completed live transactions that digitally represent funds held at a central bank, symbolising a major step for the banks and the institutionalisation of crypto and blockchain. 

As one of the first jurisdictions globally to introduce a crypto regulatory framework, Gibraltar looks forward to more revolutionary developments showcasing the significant potential of blockchain and crypto in finance.

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