UK regulators to develop tokenization roadmap by year-end

The UK Financial Conduct Authority said it plans to develop a joint roadmap on financial asset tokenization with the Bank of England later this year after gathering industry feedback, Cointelegraph reported. The regulator received 123 submissions on wholesale tokenization, and most respondents identified post-trade processes, particularly the transfer of collateral assets between counterparties, as the biggest opportunity for tokenization. Based on the feedback, the FCA and the Bank of England plan to draw up a roadmap that will set out specific target timelines for advancing tokenization in the UK’s institutional and wholesale financial markets.