Ripple Joins UK Taskforce Targeting £33B Tokenized Finance Overhaul

Ripple has joined a UK government-linked taskforce of 54 firms working to move Britain's wholesale capital markets onto tokenized infrastructure. The initiative, led by HM Treasury-appointed Chris Woolard, estimates tokenized finance could add up to £33 billion to annual UK economic output and £14 billion in yearly tax revenue by 2035, with the global tokenized asset market valued at up to $88 trillion by that year.

The taskforce plans to conduct a live, end-to-end tokenized repo transaction by spring 2027, in which securities serve as collateral for short-term cash borrowing. The UK government also aims to issue its first digital gilt instrument, known as DIGIT, by early 2027. Regulators will be asked to clarify whether tokenized government bonds can qualify as eligible collateral in existing wholesale markets, which would allow firms to integrate digital securities into daily operations rather than separate pilot systems.