Ripple joins UK’s £33B tokenization initiative
6.6 Banking Ripple joins a UK taskforce to drive tokenization in wholesale finance, targeting £33B annual output by 2035 with blockchain-based settlement and digital bonds.
Ripple has joined a UK government-led initiative to advance tokenization in wholesale financial markets. This strategy aims to generate up to £33 billion in annual economic output and £14 billion in yearly tax revenue by 2035. The plan is coordinated by a taskforce of 54 organizations from banking, asset management, and digital assets, focusing on replacing traditional settlement systems with blockchain-based solutions. Ripple, alongside major financial institutions, will help develop standards, secondary markets, and digital sovereign bonds (DIGIT), with an initial focus on the fixed-income sector. The UK’s robust capital markets and regulatory framework are seen as key advantages in positioning the country as a global leader in tokenized assets, a market projected to reach $88 trillion globally by 2035. Ripple highlights that onchain funds, bonds, and repos are already delivering faster, cheaper, and more transparent financial processes. This marks a shift from experimentation to practical adoption, as the initiative aims to modernize financial infrastructure and accelerate the tokenization of real-world assets, including government bonds and corporate debt.
