UK Launches Financial Markets Tokenization Task Force…54 Firms Including BlackRock and Coinbase Participate

The UK Ministry of Finance has moved beyond testing to build an actual market for financial tokenization. According to blockchain media CoinPost, the ministry revealed a report submitted by Chris Ullrich to the Chancellor, announcing the formation of a 54-firm industry task force. This task force, supported by the City of London Corporation, aims to transition from pilot operations to a real market within a year. Four working groups will handle primary issuance/funds, secondary markets, collateral/consistency standards, and financial market infrastructure/cash settlement. Cross-cutting issues like tax, legislation, financial crime response, and resilience will also be addressed. The UK's accelerated efforts reflect the growth potential of tokenization markets and international competition.