UK regulators to develop tokenization roadmap after industry feedback
The FCA received 123 responses to its wholesale tokenization consultation, with most respondents identifying post-trade processes as the main opportunity for adoption.
The Financial Conduct Authority (FCA) has published feedback from industry groups and financial firms on its plans for tokenized financial markets in the UK. The consultation received 123 responses, with most respondents agreeing that post-trade processes, specifically the movement of collateral between parties, present the main opportunity for tokenization.
The FCA and Bank of England will use this feedback to develop a joint tokenization roadmap, expected later this year, which will set target dates for the UK's work on wholesale tokenization. Additionally, the FCA has launched a separate consultation on tokenized gold, exploring how distributed ledger technology could be used across wider wholesale financial markets.
This UK push comes as European financial firms call for EU lawmakers to remove or significantly raise proposed limits on assets admitted to distributed ledger technology infrastructure.
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