🪙 BlackRock and JPMorgan join UK's 54-firm tokenization taskforce
A UK government-backed digital markets taskforce has united 54 financial firms — including BlackRock and JPMorgan — to develop live tokenization use cases, with tokenized repo as the first focus area.
The initiative is supported by the UK Treasury, which commissioned a report estimating tokenized markets could add up to £33 billion (~$44 billion) in annual UK economic output by 2035. The taskforce represents one of the largest coordinated institutional efforts to bring tokenized financial instruments into live market use.
The move reflects growing momentum around real-world asset tokenization as a key infrastructure layer for traditional finance, with the UK positioning itself as a leading regulatory environment for the technology.