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XRP Ripple joins the UK Treasury working group to promote wholesale market tokenization reform with BlackRock, Goldman Sachs, and JP Morgan Chase.
Ripple has joined a working group supported by the UK Treasury, which will assist in formulating a national wholesale market tokenization strategy. The blockchain company will work with BlackRock, Goldman Sachs, JPMorgan Chase, the Bank for European Settlements, Bloomberg and other financial institutions to jointly promote the UK's capital market modernization process through blockchain technology.
Economic Outlook: The tokenization market has huge potential
The UK views tokenization as a major economic opportunity, not just a technology upgrade. Government forecasts suggest that by 2035, the relocation of wholesale markets to blockchain infrastructure could generate up to £ 33 billion in economic output per year. In addition, officials expect the reforms to generate up to £ 14 billion in tax revenue annually.
Industry forecasts also show that by 2035, the global tokenized physical asset market may reach approximately US$88 trillion. As a result, the UK aims to position it as a leading destination for institutional blockchain finance.
UK develops roadmap for digital wholesale markets
The working group has developed a detailed roadmap for the next phase of the project. One of its main goals is to develop DIGIT, the UK's sovereign digital bond program, which aims to incorporate government debt into blockchain infrastructure.
In addition to digital gilts, participants will also focus on the tokenized collateral market and replace traditional settlement systems with blockchain-based alternatives. The government believes these changes can improve settlement efficiency while supporting institutional trading activities.
In addition, nine dedicated action groups will develop practical use cases covering different areas of wholesale finance. Each group will test the complete operating process, not just theoretical research.
Officials also plan to conduct real-time demonstrations of tokenized repo agreement transactions by spring 2027. These trials will assess the performance of blockchain networks under institutional market conditions before being implemented more broadly.
Ripple joins the ranks of large financial institutions
Ripple's accession makes it one of some of the world's largest financial institutions participating in the reform plan. BlackRock, Goldman Sachs, JPMorgan Chase, the Bank for European Settlements and Bloomberg are also contributing expertise to the government's tokenization strategy.
The government will collect industry feedback until September 4, 2026, before advancing the initiative into the implementation phase. In addition, participating organizations will help improve technical standards and regulatory frameworks throughout the consultation period.
Ripple is expected to contribute its experience in enterprise-level blockchain infrastructure and digital asset settlement as the working group develops solutions for wholesale financial markets.
Conclusion
Ripple's participation reflects the UK government's broader efforts to integrate mature blockchain companies into its wholesale market reform. As the roadmap moves towards real-time testing and implementation, the initiative will bring together traditional financial institutions and blockchain companies to support the country's transformation to tokenized capital markets.
