UK HM Treasury unveils Wholesale Digital Markets strategy with taskforce of 54 firms including Ripple, projecting $88 trillion tokenized RWA market by 2035 and £33B annual GDP impact.
Regulation & Gov ·
The UK Treasury has unveiled a Wholesale Digital Markets strategy with an inaugural report from Chris Woolard CBE, establishing a taskforce of 54 firms that includes Ripple, BlackRock, JPMorgan, Goldman Sachs, and Coinbase. The initiative projects a tokenized real-world assets market reaching $88 trillion by 2035, with projections of up to £33 billion in annual GDP contribution and £14 billion in tax revenue for the UK economy.
The strategy prioritizes near-term implementation, targeting tokenized repo live trials by spring 2027 and the launch of digital gilts, known as DIGIT. These efforts represent a shift in UK policy toward treating tokenization and on-chain finance as infrastructure rather than experimental technology.
The scope and timeline of the Treasury's broader tokenization rollout, beyond repo trials and digital gilts, remain unclear. Specific regulatory frameworks needed to support the projected market growth and implementation details for the remaining 54 taskforce members' roles have not been detailed in available materials.