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ARTICLE · 24 SEPTEMBER 2026

FCA Tokenisation Update: Roadmap Expected And New Call For Input On Tokenised Gold

Lewis Silkin
Lewis Silkin
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Lewis Silkin

Lewis Silkin

Joint managing partners: Jo Farmer, Richard Miskella International offices: Dublin, Hong Kong...

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The FCA has released its feedback statement on tokenisation in UK wholesale financial markets and opened a new call for input on tokenised gold. The feedback reveals market demands for faster regulatory progress, clearer treatment of tokenised collateral, and settlement finality protections, while the gold consultation explores how tokenisation could improve trading, transfer, and use of gold as wholesale collateral.

United KingdomFinance and Banking
Wendy Saunders
Wendy Saunders
Helen Hart
Helen Hart
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The FCA has published its Feedback Statement on tokenisation in UK wholesale financial markets, following the joint FCA and Bank of England Call for Input published in May. The feedback will inform a forthcoming Tokenisation Roadmap for the digitalisation of wholesale markets, which the FCA expects to publish later this year.

Alongside this, the FCA has opened a separate Call for Input on tokenised gold, seeking evidence on the opportunities, risks and possible regulatory issues arising from tokenisation of gold in UK markets. For firms involved in wholesale markets, custody, settlement, collateral, tokenised securities or digital asset infrastructure, the publications give a useful indication of the FCA's likely near-term priorities.

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