The U.K. has published a roadmap for tokenizing wholesale financial markets, saying the plan could add up to £33 billion in annual economic output and £14 billion in annual tax revenue by 2035 if it can move quickly to build the supporting infrastructure.
The first report from the government's Wholesale Digital Markets Champion, Christopher Woolard, focuses on tokenized government bonds, stablecoins and onchain settlements as the U.K. looks to become known as a global crypto and digital financial hub.
The report notes that tokenization has moved firmly beyond experimentation and is becoming a keystone to the next generation of financial markets. Because of this, it warns that without a solid plan, the U.K. risks losing liquidity, influence, and market share.
It estimates the global tokenized asset market could reach $88 trillion by 2035, up from roughly $23 billion today, according to The Block's estimates, though other industry trackers place the current market closer to $36 billion.
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