The Bank of England collaborates with multiple companies to conduct distributed ledger settlement testing

Mars Finance News: On February 11, the Bank of England officially launched the “Synchronization Lab” pilot project, conducting a six-month non-real funds experiment to test the feasibility of achieving synchronization and atomic settlement using central bank digital currencies and tokenized assets, thereby modernizing the UK’s real-time gross settlement (RTGS) infrastructure. The Bank of England selected 18 participating institutions, including well-known companies and fintech firms such as Chainlink, Swift, and LSEG. Among them, Chainlink will be responsible for testing decentralized solutions to achieve synchronized settlement of central bank digital currencies and securities on distributed ledgers, while other participants will focus on diverse use cases such as tokenized government bonds, conditional payments, collateral optimization, foreign exchange settlement, and digital currency issuance.