{"id":973475,"date":"2026-05-20T14:58:20","date_gmt":"2026-05-20T14:58:20","guid":{"rendered":"https:\/\/www.europesays.com\/uk\/973475\/"},"modified":"2026-05-20T14:58:20","modified_gmt":"2026-05-20T14:58:20","slug":"city-of-london-corporation-to-drive-forward-governments-wholesale-digital-ambitions","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/uk\/973475\/","title":{"rendered":"City of London Corporation to drive forward government’s wholesale digital ambitions"},"content":{"rendered":"

CITY OF LONDON CORPORATION TO DRIVE FORWARD GOVERNMENT\u2019S WHOLESALE DIGITAL AMBITIONS<\/strong><\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 City Corporation supporting the government\u2019s Wholesale Digital Markets Champion, Chris Woolard, CBE by leading the secretariat.<\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Corporation will work with Chris to establish a cross-sectoral taskforce to drive the digitalisation of \u00a0UK wholesale markets.\u00a0<\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 News announced by City Policy Chairman in a speech at City Week<\/p>\n

The City of London Corporation will support the government\u2019s Wholesale Digital Markets Champion to help create a tokenised wholesale financial markets system, boosting the UK\u2019s global competitiveness and accelerating innovation across financial and professional services.<\/p>\n

The news was announced by the City of London Corporation\u2019s Policy Chairman, Chris Hayward, who was speaking to an audience of industry figures at City Week.<\/p>\n

The UK is a leading liquidity provider in wholesale market with more than \u00a34 trillion worth of securities traded, cleared and settled daily in the UK.<\/p>\n

Global momentum behind tokenisation of securities and other assets is accelerating rapidly. The International Monetary Fund (IMF) estimates that asset tokenisation could reach around $12-16 trillion, or 10% of global GDP by 2030 globally.<\/p>\n

As delivery partner and secretariat to Chris Woolard CBE, the City Corporation is seconding five staff to establish a joint industry, government and regulatory taskforce. The City of London Corporation is working closely with industry partners including TheCityUK, UK Finance, the Investment Association and Innovate Finance in supporting the initiative and helping convene expertise from across the financial and professional services sector.<\/p>\n

The joint taskforce will develop a clear and prioritised action plan to build wholesale digital markets in the UK, address regulatory barriers, and deliver a small number of high\u2011impact actionable digital markets initiatives.<\/p>\n

To support delivery, the City Corporation will also produce a report on cross\u2011border digital asset issuance to be published in summer 2026, helping inform UK competitiveness and market access considerations.<\/p>\n

A wholesale tokenised financial system could deliver significant benefits to the UK economy. Once delivered, trades across a range of asset classes, could be settled almost instantly, freeing up collateral tied up in settlement delays. Firms could cut operational costs, as transactions become more efficient and automated. And cross-border payments trade would be encourage, as transactions can take place more easily.<\/p>\n

Policy Chairman of the City of London Corporation, Chris Hayward said:<\/strong><\/p>\n

\u201cWe are at a pivotal moment \u2013 a digital \u2018big bang\u2019 that will define the future of finance. The choice is clear: lead this transformation or lose it.\u201d<\/p>\n

\u201cIt is a privilege to support Chris Woolard and the government in advancing a wholesale, tokenised financial system. Getting this right is critical. If we succeed, the UK will not only retain its position as the world\u2019s leading financial centre, but set a new global benchmark for innovation and competitiveness.\u201d<\/p>\n

‘;<\/p>\n","protected":false},"excerpt":{"rendered":"CITY OF LONDON CORPORATION TO DRIVE FORWARD GOVERNMENT\u2019S WHOLESALE DIGITAL AMBITIONS \u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 City Corporation supporting the government\u2019s Wholesale…\n","protected":false},"author":2,"featured_media":774418,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[3,4],"tags":[748,11512,393,4884,12,46732,271373,1144,8787,712,16,15,1764],"class_list":["post-973475","post","type-post","status-publish","format-standard","has-post-thumbnail","category-uk","category-united-kingdom","tag-britain","tag-city-of-london","tag-england","tag-great-britain","tag-news","tag-newsroom","tag-newsroom-city-of-london","tag-northern-ireland","tag-press-release","tag-scotland","tag-uk","tag-united-kingdom","tag-wales"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/116607497288408498","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/973475","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=973475"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/973475\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/774418"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=973475"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=973475"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=973475"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}