FCA welcomes Project Guardian’s first industry report on tokenisation

On "04/11/2024", the "Financial Conduct Authority" issued an update regarding "FCA welcomes Project Guardian’s first industry report on tokenisation 04/11/2024.
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The Financial Conduct Authority (FCA) has welcomed the first industry-led report on tokenisation from Project Guardian, a collaboration of industry and regulators led by the Monetary Authority of Singapore. The report outlines an ambitious phased vision for the use of distributed ledger technology in asset management.

Project Guardian's report discusses potential industry and regulatory standards needed to scale tokenisation use-cases, enable firms and investors to benefit from the technology, and considers regulatory considerations for tokenisation within the asset and wealth management sector.

The FCA is working with Project Guardian members and the sector to support the development and adoption of asset tokenisation. In 2025, they will collaborate with the Monetary Authority Singapore (MAS) to explore regulatory considerations for tokenisation in the UK.

Additionally, the MAS, FCA, and broader Guardian policymaker group have worked together to develop use-cases explored in this report, including at the Point Zero Forum in Zurich.

The FCA is also an observer on the industry-led Technology Working Group of the government’s Asset Management Taskforce that is considering the implementation of fund tokenisation in the UK.