Share this article
UK Govt-Backed Report Urges Firms to Execute Tokenization Strategies
The Technology Working Group's report says firms need to be able to settle transfers on the blockchain via digital money and that funds should be allowed to hold tokenized assets.
Updated Mar 26, 2024, 12:59 p.m. Published Mar 26, 2024, 12:59 p.m.
- A U.K.-government-backed technology working group wants firms to run tokenization projects in collaboration with their peers.
- The group's second report on the topic says funds should be able to hold tokenized assets as well as settle transfers on-chain.
A technology working group backed by the U.K. government is urging firms to execute tokenization strategies in collaboration with their peers in a new report published Tuesday.
Tokenization is the digitization of real-world assets mostly through the use of blockchain technology. Financial institutions around the world are experimenting with tokenization and related settlement systems to improve the efficiency of traditional markets.
STORY CONTINUES BELOW
Based on industry feedback, the working group says the focus needs to be on on-chain fund settlement with digital money. It also said funds must be able to hold tokenized assets and utilize public permissioned networks that allow verified users to access the blockchain.
Members of the Technology Working Group include the U.K. government's finance arm and the Financial Conduct Authority, which regulates the country's finance sector, including crypto. This new report builds on the group's November report where it urged regulators to establish clarity for tokenization as firms continue to take an interest in it.
The report also said that the tokenization of money market fund units used as collateral could help "accelerate the relevant settlement process increasing the opportunities for this use case."
The government will continue to engage with firms on the possible benefits of adding distributed ledger technology to sovereign bonds, the report said.
The group's third phase will focus on artificial intelligence.
Di più per voi
Cosa sapere:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
Больше для вас
Canadian Province Wins Forfeiture of $1M QuadrigaCX Co-Founder's Cash & Gold via Default Judgment
The ruling transfers cash, gold bars, watches, and jewelry seized from a CIBC safety deposit box and bank account into government hands after Patryn did not defend the case.
Что нужно знать:
- The Supreme Court of British Columbia has forfeited $1 million in cash and gold tied to QuadrigaCX's co-founder, Michael Patryn, to the government.
- Patryn did not contest the forfeiture, which involved 45 gold bars, luxury watches, and over $250,000 in cash seized under an Unexplained Wealth Order.
- The forfeiture may lead to a process determining if any assets can be directed to QuadrigaCX's creditors, who received 13 cents on the dollar in the bankruptcy settlement.
Top Stories
