Ripple Joins UK Treasury's 54-Firm Tokenization Taskforce, Targeting £33B Economic Impact

Ripple Labs has joined the UK HM Treasury's Wholesale Digital Markets taskforce, a 54-firm initiative that estimates tokenized wholesale finance could add up to £33 billion to UK annual economic output by 2035. As a task force member alongside major institutions, Ripple holds a seat in shaping tokenization standards for UK wholesale markets, though it does not control the program's direction. According to Ripple's public statement on X, onchain funds, bonds, and repurchase agreements are already operational and can settle faster and cost less than traditional systems. The company cited the UK's well-developed capital markets and regulatory framework as reasons the country could become a leading hub for tokenized wholesale finance. Industry feedback on taskforce priorities remains open through September 4.
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