In Focus
‘Tokenised deposits’: What are they and how are they being used?
For many years companies and individuals have used distributed ledger technology (DLT) to create and trade cryptocurrencies. Now some banks are starting to use DLT to create ‘tokenised deposits’: digital representations of bank deposits that can be sent and received more easily than traditional bank money. This briefing looks into how tokenised deposits are being used and discusses the potential risks and benefits.