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On the same day, that Kier Starmer made his infamous announcement regarding digital ID, with remarkable timing a transformational pilot began in London. Strangely, not covered in the mainstream financial press. It’s a policy approach backed by the Bank for International Settlements and the Bank of England together with major banking institutions to pilot tokenized sterling deposits. Sold as a means to generate faster money, the reality is that it is a profound structural change in how public and private finance interact. The CBDC brand remains deeply toxic, and a quiet pivot has taken place.
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