Today UK Finance, the banking and financial services industry body, called for government action to support the UK in adopting tokenized securities. Currently the UK is behind other countries regarding tokenization. Together with Oliver Wyman it published a report outlining a path for the UK to become a leader.
“Securities tokenisation is likely to transform financial markets, through delivering lower costs, lower risks, and wider market access,” said Bob Wigley, Chair of UK Finance. “But without continued bold action the UK risks falling behind other jurisdictions.”
The industry body called for the government to issue bonds using blockchain, following the likes of the Hong Kong Monetary Authority, and the European Investment Bank (EIB), which has issued four digital bonds.
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