Lloyds Banking Group (Lloyds) has completed three live tokenised deposit transactions as part of Real-Value Testing of Project Agorá, a global public-private initiative exploring how tokenisation can improve wholesale cross-border payments. In the cross-currency transaction, the Group’s Corporate Markets business converted Swiss francs into sterling, with Lloyds Bank providing the sterling settlement. Lloyds also participated as a customer bank in separate Swiss franc and euro transactions using tokenised deposits. Together, the three transactions tested how tokenised commercial bank money could support payment flows across different currencies within the regulated banking system. Lloyds leadership in digital financeThe Project Agorá transactions build on Lloyds Banking Group’s work to test digital finance in regulated markets.