The bank has been conducting its own tokenised pilots in areas such as digital gilts and claims to have made the first public blockchain transaction last December.

Others are no less eager to extoll the benefits of blockchain or other frontier mortgage technologies.

Last year, NatWest said it was working with Pexa, an Australian digital property platform, to make mortgage-related documents more readily available to speed up the house-buying process.

The bank plans to start with remortgages before moving on to sales and purchases in the coming months.

“This means no NatWest customer will have to sit outside their new home on moving-in day waiting for funds to clear,” Barry Connolly, managing director for…