UK Finance is trying out something called the U.K. Regulated Liability Network (RLN) with 11 member organizations.

They're testing it in three areas: safer online shopping payments, transparent home buying, and quicker digital bond settlements.

The experiments will follow Project Rosalind, which looked into how banks use technology to handle digital currency.

The RLN keeps track of money and assets using blockchain tech, making it easier for different types of money to work together.

Big banks like Barclays and HSBC are part of the experiment to make money services better for customers.

Earlier, some big banks in the US tested a similar idea with digital currency, including Mastercard and Citi, who are also involved in the UK experiment.