Latest news is actually that this plan got cancelled.
Bank Of England Drops Plans For Its Own Cryptocurrency, Fearing Instability
The Bank of England has decided it will not launch its own
cryptocurrency due to its possible impact on the financial system,
according to FT Advisor. The bank began researching cryptocurrencies
in 2015 and was considering launching its own cryptocurrency.The bank continues to research cryptocurrencies, but it has decided
that having its own such currency could have negative ramifications on
traditional banks. The bank believes that consumers would choose its
cryptocurrency over paper money and would stop using commercial bank
accounts as well as paper money.
Thanks for the update
You're welcome! It's good to see that the traditional financial institutions are also looking to embrace blockchain and crypto technology.