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 UK’s Financial Conduct Authority (FCA) published industry feedback on its plans for tokenized financial markets, setting the stage for a joint tokenization roadmap with the Bank of England later this year.
The regulator received 123 responses from industry groups, financial firms and legal academics, with most agreeing that post-trade processes, particularly the movement of collateral between parties, represent the main opportunity for tokenization.
The FCA and Bank of England will use the feedback to develop the roadmap, which is expected later this year and will set target dates for the UK’s work on wholesale tokenization.