**UK Finance Explores Blockchain for Payments**

UK Finance has announced promising results from its experimental phase of the Regulated Liability Network (RLN), a blockchain-based ledger designed to streamline the UK's finance industry. The RLN aims to handle the country's massive $14.5 trillion annual payment volume by leveraging distributed ledger technology (DLT).

Key Points:

- The RLN supports central bank digital currencies (CBDC) and tokenized assets.

- It promises innovations like programmable payments and reduced fraud.

- The project involved 11 major banks, including Barclays and HSBC.

- UK Finance calls for more regulatory engagement to fully implement the RLN.

According to Jana Mackintosh, managing director of payments at UK Finance, collaboration with regulators is crucial for the future of commercial bank money. The RLN could offer new firms a common access point to established financial systems, promoting innovation and efficiency in the UK payments industry.