UK regulators plan wholesale tokenization roadmap after 123 submissions

Sep 14, 2026 04:50 (39d ago)

The FCA and Bank of England plan a joint wholesale-tokenization roadmap with specific target timelines later this year.
Most of the 123 submissions identified post-trade activity, particularly collateral transfers between counterparties, as the biggest opportunity.
The FCA, Bank of England and HM Treasury are separately reviewing tokenized gold, with no final decision on bespoke rules or exemptions.

The UK Financial Conduct Authority (FCA) and Bank of England plan to publish a joint wholesale-tokenization roadmap later this year after receiving 123 responses, with most respondents identifying post-trade processes—particularly collateral transfers between counterparties—as the main adoption opportunity. Separately, the FCA, Bank of England and HM Treasury are examining whether tokenized gold and similar commodities require a bespoke framework or exemptions from collective investment scheme and alternative investment fund rules. The reviews form part of wider UK efforts to modernize wholesale-market infrastructure, while European financial firms are urging lawmakers to ease proposed limits on assets admitted to distributed-ledger infrastructure. No final decision on tokenized-gold regulation has been announced.