The Bank of England is exploring tokenization in bank money
Join Our Telegram channel to stay up to date on breaking news coverage The crypto industry has strongly infiltrated the traditional financial sector to the point where the banks can no longer ignore it. It has now been several years since central banks worldwide have started building CBDCs, while some have even gone as far as offering accounts to crypto companies. Meanwhile, according to its deputy governor, Sir Jon Cunliffe, the Bank of England has seemingly developed a strong interest in tokenization . The bank’s official spoke during the recent Innovative Finance Global Summit, which took place in London on April 17th. During the event, he addressed the development of tokenization , stating that the UK’s central bank is currently exploring it. According to Cunliffe, the bank is looking into tokenization in bank money , central bank money , and even non-bank money . The @bankofengland's Jon Cunliffe outlines 4 areas where tokenisation of money is being explored...