Tokenovate joins Bank of England Synchronisation Lab
09 February 2026 UK
Image: Yuriy/stock.adobe.com
Tokenovate is participating in the Bank of England’s Synchronisation Lab, alongside 17 other industry participants drawn from across the financial ecosystem.
As part of the lab, Tokenovate will contribute its knowledge in tokenised settlement, derivative and collateral workflows, and multilateral financial orchestration.
It will support collaborative, exploratory work focused on how synchronised payments through the Bank of England’s Real-Time Gross Settlement (RTGS) service could support the future evolution of wholesale market infrastructure.
The Synchronisation Lab examines potential use cases and emerging business models for synchronisation, with insights from this work being intended to help inform and validate design choices as the Bank of England progresses its thinking around a future synchronisation capability.
Within the lab, participants are exploring how synchronised payments through RTGS could support the automation and secure execution of more complex financial products, including derivatives and collateral workflows.
This includes examining how standardised payment and settlement instructions, programmable lifecycle events and conditional asset transfers might be orchestrated in a coordinated way within existing market infrastructure.
This development follows Tokenovate’s launch of the Novat, a programmable settlement protocol for tokenised assets, enabling instant, atomic, and legally final settlement.
As markets head toward T+1 settlement, liquidity remains trapped in fragmented, legacy post-trade systems, the Novat synchronises asset and cash movements while introducing automation and legal finality.
Richard Baker, CEO and founder of Tokenovate, states: “The Synchronisation Lab provides a valuable opportunity to test ideas in a collaborative environment alongside the Bank of England and other participants.
“We will bring our experience and insights to exploratory work examining how settlement could become more programmable and tokenised, while continuing to operate alongside existing custodial and RTGS infrastructures over the coming months of the project.”
Ciarán McGonagle, chief legal and product officer at Tokenovate, adds: “Settlement is where the underlying fragmentation of otherwise digital markets is most clearly exposed.
“The Synchronisation Lab is an important step in exploring how asset and cash movements can be coordinated across systems in a legally robust way.
“Our contribution focuses on how programmable settlement logic, grounded in the FINOS Common Domain Model, can sit alongside existing RTGS and custodial infrastructure to support more automated, multilateral workflows for derivatives and collateral, without disrupting settlement finality.”
As part of the lab, Tokenovate will contribute its knowledge in tokenised settlement, derivative and collateral workflows, and multilateral financial orchestration.
It will support collaborative, exploratory work focused on how synchronised payments through the Bank of England’s Real-Time Gross Settlement (RTGS) service could support the future evolution of wholesale market infrastructure.
The Synchronisation Lab examines potential use cases and emerging business models for synchronisation, with insights from this work being intended to help inform and validate design choices as the Bank of England progresses its thinking around a future synchronisation capability.
Within the lab, participants are exploring how synchronised payments through RTGS could support the automation and secure execution of more complex financial products, including derivatives and collateral workflows.
This includes examining how standardised payment and settlement instructions, programmable lifecycle events and conditional asset transfers might be orchestrated in a coordinated way within existing market infrastructure.
This development follows Tokenovate’s launch of the Novat, a programmable settlement protocol for tokenised assets, enabling instant, atomic, and legally final settlement.
As markets head toward T+1 settlement, liquidity remains trapped in fragmented, legacy post-trade systems, the Novat synchronises asset and cash movements while introducing automation and legal finality.
Richard Baker, CEO and founder of Tokenovate, states: “The Synchronisation Lab provides a valuable opportunity to test ideas in a collaborative environment alongside the Bank of England and other participants.
“We will bring our experience and insights to exploratory work examining how settlement could become more programmable and tokenised, while continuing to operate alongside existing custodial and RTGS infrastructures over the coming months of the project.”
Ciarán McGonagle, chief legal and product officer at Tokenovate, adds: “Settlement is where the underlying fragmentation of otherwise digital markets is most clearly exposed.
“The Synchronisation Lab is an important step in exploring how asset and cash movements can be coordinated across systems in a legally robust way.
“Our contribution focuses on how programmable settlement logic, grounded in the FINOS Common Domain Model, can sit alongside existing RTGS and custodial infrastructure to support more automated, multilateral workflows for derivatives and collateral, without disrupting settlement finality.”
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