Lloyds, Aberdeen, and Archax pilot blockchain-based FX collateral on Hedera

Lloyds Banking Group, Aberdeen, and Archax completed the UK’s first FX trades backed by tokenized real-world assets on Hedera, using tokenized money market funds and digitized gilts as collateral. The regulated, Archax-controlled Nest network enabled near real-time collateral transfers, aiming to streamline settlement and liquidity management in wholesale markets. Recognized in the Wholesale Digital Markets Champion report, the pilot underscores institutional adoption of Hedera for regulated, scalable collateral modernization.