According to CoinsPaid Media, the UK Central Bank Digital Currency (CBDC) project has successfully passed the proof-of-concept stage, and the UK authorities are ready to start piloting the digital pound using the Regulated Liabilities Network (RLN) infrastructure. According to the latest report from the UK Financial Association, the digital pound pilot has successfully passed the proof-of-concept stage and tested three potential usage scenarios in a closed environment: consumer domestic payments, wholesale cross-border payments, and securities settlement.

The report also states that in future trials, the RLN will use its own token for settlement and hold tokenized regulated currencies and digital assets on the same ledger. The Bank of England (BoE) has successfully completed Project Rosalind, demonstrating the potential of Britcoin as a means of reducing the cost of peer-to-peer payments, and has begun developing a wallet for the CBDC.