UK Finance's GBTD initiative has completed the first live customer transactions using tokenized sterling deposits, involving major lenders Barclays, HSBC UK, and NatWest. The seven-member consortium successfully executed two remortgages and a marketplace sale as part of the pilot program. Funds in these transactions were locked via smart contract functionality until all deal conditions were satisfied, demonstrating programmable settlement capabilities for real-world banking applications. This milestone marks the first time tokenized fiat deposits have been used in live customer-facing financial transactions within the UK banking sector.