The BBA on Nostr: 📍Tokenising Gold on the Blockchain: The Financial Conduct Authority is ...
📍Tokenising Gold on the Blockchain:
The Financial Conduct Authority is drawing up rules for tokenized gold as part of a broader digital asset strategy to preserve London’s dominance in global gold trading.
The regulator is consulting financial institutions on how tokenized gold, which represents ownership of physical bullion, could be used as collateral in wholesale markets.
The initiative aligns with a wider U.K. push to digitize financial markets, which officials say could add tens of billions of pounds to annual economic output as London faces growing competition from China in gold trading.
In May this year, The FCA and the Bank of England revealed plans for tokenization and modernization of their financial markets in May.
HM Treasury laid out a 12-month plan in July to speed up the digitization of the country’s financial markets, which it projects could boost annual economic output by 33 billion pounds ($44 billion).
Published at
2026-08-11 14:35:04 UTCEvent JSON
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