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UK Treasury teams with Ripple, BlackRock, and J.P. Morgan to tokenize £33B debt market.

Market News
13 Jul 2026
UToday
View Source
Bullish
UK Treasury teams with Ripple, BlackRock, and J.P. Morgan to tokenize £33B debt market.

The UK Treasury has formed a 54-member taskforce including Ripple, BlackRock, and J.P. Morgan to replace legacy financial systems with blockchain technology, aiming to tokenize wholesale markets worth £33 billion. This initiative targets the fixed-income market first, with plans to launch sovereign digital bonds called DIGIT by 2027. The government expects this move to boost economic output by £33 billion annually and increase tax revenues by £14 billion by 2035. The project will collect feedback until September 2026 before full implementation, marking a major shift in British capital markets.

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