UK Government Lays Out Tokenized Finance Roadmap Targeting £33 Billion Annual Economic Boost by 2035

The UK government published a roadmap for tokenizing wholesale financial markets, projecting the initiative could add up to £33 billion in annual economic output and £14 billion in annual tax revenue by 2035, according to the first report from Wholesale Digital Markets Champion Christopher Woolard. The roadmap focuses on tokenized government bonds, stablecoins, and onchain settlements, with the government aiming to establish the UK as a global crypto and digital financial hub.

The report estimates the global tokenized asset market could reach $88 trillion by 2035, up from roughly $23 billion today. Key recommendations include prioritizing the Digital Gilt Instrument (DIGIT) pilot with first issuance targeted for Q1 2027, expanding tokenized collateral use, and building payment infrastructure for real-time settlement of tokenized assets. The report also emphasizes the need to establish legal and tax standards to encourage institutional adoption.