[Lloyds Bank Completes UK's First Tokenized Deposit Transaction for Government Bonds] Lloyds Banking Group, one of the UK's largest banks, has announced the completion of the country's first transaction using tokenized deposits to purchase government bonds. As the third-largest bank by market capitalization in the UK, Lloyds Bank executed the transaction through the crypto trading platform Archax and the privacy-focused Canton network. In the process, Lloyds Bank plc issued tokenized deposits on the Canton network, and Lloyds Bank Corporate Markets used these deposits to purchase tokenized government bonds from Archax. Archax then transferred the underlying funds back to Lloyds Bank's regular account.