Lloyds pushes blockchain use to transform UK banking operations #
Lloyds Banking Group is spearheading the adoption of blockchain technology within UK banking, exploring how tokenised deposits and distributed-ledger systems could disrupt traditional account services and transaction processing. Under CEO Charlie Nunn, the bank is testing ways to use blockchain to streamline internal operations, enhance efficiency, and respond to competitive pressures from fintechs and digital challengers
Bank executives see potential in blockchain to reduce settlement times, lower operational costs, and offer customers more flexible, near-real-time services. The efforts include pilot projects with external partners as well as internal development, highlighting a strategic shift toward integrating emerging infrastructure without compromising regulatory compliance or customer protections. If successful, these initiatives could reshape how core banking functions are executed in the UK’s highly regulated financial system.