Circle, BlackRock Join UK’s 54-Firm Tokenization Task Force

- UK Treasury forms 54-company task force to advance tokenization in wholesale markets - Tokenized repo transactions within 12 months and a tokenized UK government bond by 2027 On July 13, 2026, the UK Treasury announced the creation of a 54-firm industry task force to accelerate tokenization across wholesale financial markets. According to FinTech Futures on July 13, 2026, key participants include crypto companies such as Circle, Ripple, Coinbase, Chainalysis, and Kraken’s Payward, and they will work alongside global financial institutions BlackRock, Goldman Sachs, J.P. Morgan, Morgan Stanley, HSBC, Barclays, UBS, Citi, State Street, and the London Stock Exchange Group. The initiative aims to deliver live, end-to-end tokenized use cases, and the task force plans to launch tokenized repo transactions within 12 months. In addition, it intends to roll out a tokenized UK government bond, referred to as “DIGIT,” in early 2027. According to FinTech Futures on July 13, 2026, the task force will operate within the Bank of England and the Financial Conduct Authority’s Digital Securities Sandbox, which is expected to facilitate the launch of tokenized government bonds. An official government report on July 13, 2026, outlined nine dedicated action groups that will develop standards across key market segments, and these groups are intended to coordinate industry input into the emerging digital securities framework. Industry feedback is being solicited until September 4, 2026, and this consultation will inform the initial tokenized repo trials scheduled for spring 2027. UK Treasury projections in the same report estimate up to £33 billion in annual economic output and £14 billion in yearly tax revenue by 2035, and these figures are presented as reinforcing the nation’s ambition to lead global digital financial infrastructure. As of 15:09 UTC on July 13, 2026, market data shows Ripple USD (RLUSD) trading at $1 with a -0.013% change, while USDC is at $1 with a -0.024% change. Meanwhile, Canton (CC) is trading at $0.133 with a -3.381% change, indicating a sharper intraday decline compared with the two major stablecoins.