The UK is promoting DLT and tokenized payments, planning to pilot stablecoins in the interbank market.

The UK government has stated that it will promote inter-agency financial markets to explore the best application scenarios for Distributed Ledger Technology (DLT) and tokenization solutions, and test payment methods, including stablecoins, in a digital securities sandbox. The Treasury Department stated in a policy document that it will form a cross-market working group to promote practical implementation, while supporting the introduction of innovative forms such as tokenized deposits and stablecoins in digital payments. [CoinDesk]