Case Study: Global Tier 1 Bank – Tokenised Deposits Pilot
Context:
Tokenised deposits are bank deposits that have been converted into digital tokens and stored on a blockchain, while remaining fully regulated bank money. Whilst not yet widely in use within commercial or wholesale banking, this client has undertaken a number of proof of concept exercises to understand the opportunities and constraints of adoption.
Client Challenges:
- Limited technical experience with tokenisation required to participate in pilot scheme, due to not having existing tokenisation use cases within the bank
- No existing tokenisation infrastructure
Solution:
- Complemented existing bank technology teams with experienced Akkoda development resource
- Supported onboarding of bank to common tokenisation infrastructure sandbox environment
- Impact assessed in-scope tokenisation use cases for bank adoption, identifying both technology challenges and business benefits
Outcomes:
- Bank operational on tokenisation infrastructure and participating in pilot programme
- Future adoption roadmap for tokenisation use cases clearly defined