British Banks Launch Blockchain Token Trials to Slash Home Buying Time and Fees

British banks on June 2, 2026, began testing digital tokens on blockchain to streamline property purchases, a move that could cut settlement times from months to days and save buyers thousands of pounds by removing intermediaries. The trials represent a significant institutional push to apply crypto technology to one of the most cumbersome financial processes. The tokenized system creates a digital deed transferable instantly upon payment, bypassing layers of lawyers and registrars. Early projections indicate the typical eight-to-12-week timeline could shrink by over 90%, while eliminating middlemen fees that often top several thousand pounds per transaction. The effort, backed by major U.K. lenders, underscores the expanding use of distributed ledger technology beyond speculative trading. Should the trials prove successful, the model may reshape mortgage lending and property markets worldwide, challenging traditional title and escrow services.