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UK roadmap targets tokenized government bond by early 2027
The government-backed plan also calls for blockchain testing in transactions where securities are used to borrow cash, aiming to move tokenization from pilots to scaled live markets.
Cointelegraph reports that a government-backed UK industry task force says the country could add up to 33 billion British pounds, about $44 billion, to annual economic output by 2035 by positioning itself as a leader in tokenized financial markets.
The task force, led by Wholesale Digital Markets Champion Chris Woolard appointed by HM Treasury, outlines a 12-month plan to test blockchain in a financial transaction where securities are used to borrow cash. The roadmap also targets issuing the UK’s first tokenized government bond, a digital gilt, by the first quarter of 2027.
Cointelegraph adds that the effort brings together more than 50 companies from traditional finance and crypto, including BlackRock, Goldman Sachs, JPMorgan, Morgan Stanley, HSBC, UBS, Coinbase, Circle, Ripple, Kraken, DTCC, and Euroclear.
The report says the goal is to move beyond isolated pilots into live markets where tokenized securities can be traded, settled, and used as collateral. Ripple, listed as a task force member, said on-chain funds, bonds, and repo are already showing benefits over legacy equivalents.