FCA and Bank of England set shared vision for wholesale tokenisation
FCA and Bank of England jointly published a shared vision for tokenisation and DLT in UK wholesale markets, seeking industry views on future market structure.
Joint FCA-BoE position provides regulatory clarity for adoption of tokenisation and DLT in UK wholesale markets, covering issuance, settlement and trading. Signals supportive UK stance to maintain competitiveness, with regulatory framework expected to evolve to accommodate tokenised securities and cash.
Defines direction for digital asset infrastructure in UK wholesale markets, affecting capital markets, settlement, custody and collateral management.
Action Required
Wholesale market participants should review tokenisation strategies, engage with the joint FCA/BoE consultation, and assess implications for settlement, custody and collateral processes.
Coordinated FCA-BoE policy positions on tokenisation will shape strategic infrastructure investment and risk frameworks across wholesale markets.
Engage with FCA/BoE consultation on tokenisation. Assess DLT readiness across settlement, custody, and trading workflows. Review operational risk and resilience implications of digital asset adoption in wholesale activities.
“The FCA and Bank of England set out a shared vision and seek industry views on tokenisation and distributed ledger technology in UK wholesale markets, covering digital representation of assets such as shares, bonds or currency on a digital ledger.”