FCA and BoE Push Tokenised Securities Plan With July Feedback Deadline

TLDR

• FCA and BoE set July deadline for UK tokenized securities market feedback now

• UK regulators seek views on safe tokenization in wholesale financial markets

  

• FCA and BoE push tokenized securities roadmap with July feedback deadline soon

• UK tokenization plan targets securities, settlement, and collateral reforms

• FCA and BoE advance wholesale tokenization rules before the final 2026 roadmap

UK regulators moved tokenization higher on the wholesale markets agenda with a joint call for industry feedback. The FCA and Bank of England set July 3, 2026, as the deadline for responses. Their plan targets tokenised securities, settlement tools, collateral use, and post-trade market infrastructure.

Regulators Seek Market Input

The call covers banks, investment firms, asset managers, trading venues, and financial market infrastructure providers. It also includes central securities depositories, central counterparties, post-trade providers, and fintech firms. Regulators want clear evidence before they publish a wider roadmap later in 2026.

The consultation focuses on bonds, equities, and fund units in wholesale financial markets. The FCA and the Bank expect future work to cover more asset classes. They said tokenization needs clear rules so firms can invest, test, and scale with confidence.

The work follows the UK Wholesale Financial Markets Digital Strategy, which placed tokenization inside market reform plans. That strategy highlighted post-trade processes and collateral as major areas for tokenization change. It also supports the government’s Wholesale Digital Markets Champion role.

Sandbox, Fund Rules and Settlement Plans Add Context

The FCA and Bank of England already run the Digital Securities Sandbox for live testing. The sandbox lets firms test issuance, trading, and settlement of tokenised securities under regulatory oversight. So far, 16 firms have passed the first stage and now work toward live activity.

The FCA added another step in April 2026 through Policy Statement PS 26/7. The policy moved fund tokenization from trial use toward wider adoption in authorized fund markets. It also introduced optional direct-to-fund dealing rules for authorized and tokenised fund structures.

The Bank separately opened a consultation on longer RTGS and CHAPS settlement hours. Its staged plan includes weekend access and longer daily windows, subject to industry readiness. Besides, the Bank targets a live synchronization service in 2028 for tokenization settlement and collateral flows.

Roadmap To Guide Tokenised Market Growth

After the deadline, regulators plan workshops with industry over the following months. They will publish a response statement in summer 2026 after reviewing submitted feedback. Later in 2026, they will issue a cross-authority roadmap for wholesale market digitalisation.

The roadmap should explain how tokenization can grow across regulated UK wholesale markets. It should also show how firms can use tokenization infrastructure without bypassing core safeguards. Hence, the call gives firms a formal channel to shape future market rules.

The UK wants to support tokenization while protecting market integrity and effective competition. The FCA and Bank of England now seek evidence on regulation, infrastructure, and market practice. Their next steps could define how tokenised securities scale across UK financial markets.

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