The Financial Conduct Authority (FCA) has called tokenisation a “key component of the future of financial services” as it launches a consultation on building up the use of blockchain technology in the sector.
Tokenisation in asset management is the process of creating digital tokens on a blockchain to represent ownership of real-world assets, such as shares in a fund, and should not be confused with crypto assets, the regulator's interim wholesale buyside director Nike Trost stressed. The plans set out yesterday (14 October) include guidance to provide firms with additional clarity to aid adoption of this new technology. Efficiency within asset management is an all-round goal for the regulator and, according to this report, tokenisation forms a long-term part of that solution. FCA execu...
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