UK Plans to Establish "Digital Market Supervisor" to Promote On-Chain Transformation of Wholesale Markets

ChainCatcher news, according to Bloomberg, the UK Treasury will establish a "Digital Markets Champion" to coordinate the digitalization (Tokenization) of wholesale financial market asset issuance, trading, and settlement based on blockchain technology. Lucy Rigby, Economic Secretary to the Treasury, stated that a "Dematerialisation Market Action Taskforce" will be set up to oversee the transition from paper share certificates to electronic formats.

The government has released the "Wholesale Financial Markets Digital Strategy" to promote the adoption of blockchain and artificial intelligence, and has launched the "Digital Gilt" (DIGIT) tender, inviting technology providers to participate in the issuance of UK government bonds on the blockchain.