#DigitalMoney
2 articles tagged #DigitalMoney — curated RWA tokenization coverage.
Why aren’t tokenized deposits moving faster?
The BIS has questioned the slow adoption of tokenized deposits, prompting a closer look at major multibank initiatives like the UK’s Great British Tokenised Deposits (GBTD) and the German-led Commercial Bank Money Token (CBMT). While single-bank solutions exist, the industry is now focusing on interoperability and clearing layers to facilitate interbank payments. GBTD, coordinated by UK Finance, has moved to a live pilot phase involving seven banks, including Barclays and HSBC, to test retail and wholesale use cases. Simultaneously, Germany’s CBMT has successfully executed live multibank transactions between corporate giants like Siemens and Evonik, supported by a regulatory classification from BaFin. Both projects identify coordination among diverse banking stakeholders and legacy system integration as primary hurdles to scaling. Regulatory clarity remains a critical bottleneck, particularly in Europe, where the lack of a harmonized legal definition for tokenized deposits risks market fragmentation. These initiatives are vital for the RWA market as they aim to bridge the gap between traditional bank money and programmable digital assets, ensuring that tokenized deposits retain essential KYC and AML protections.
Tokenized Cash Management Advisory Group Publishes the Scope of Its Work Program
The Tokenized Cash Management Advisory Group (TCMAG) has officially published its work program to transition tokenized cash management from experimental pilots into scalable production environments. This initiative follows the group's April release of twelve core principles for digital money, now translating those standards into a concrete agenda tailored for corporate treasurers. By defining specific use cases and the necessary capabilities for participants, TCMAG aims to move the industry away from fragmented, stand-alone projects toward an integrated ecosystem. The program outlines requirements for a diverse range of stakeholders, including blockchain networks, asset issuers, wallet providers, custodians, banks, and ERP platforms. Chair Darsh Johal emphasized that success relies on these players weaving their capabilities into a unified framework that prioritizes compliance, settlement finality, and operational resilience. Corporate treasurers are actively invited to participate to ensure that technological developments align with real-world treasury workflows and operational needs. This structured approach represents a significant step in professionalizing the RWA sector by establishing a shared roadmap for the adoption of digital money in corporate finance.