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The UK Treasury has officially brought Ripple into a large-scale government reform aimed at tokenizing wholesale financial markets. The technology giant has joined a special working group of 54 participants established under the auspices of Wholesale Digital Markets Champion Chris Woolard and the City of London Corporation.
The initiative involves the complete replacement of traditional legacy settlement systems with blockchain platforms.
London's plans are based on pragmatic commercial calculations. The global market for tokenized real-world assets is expected to reach approximately $88 trillion by 2035, and the United Kingdom intends to secure a key share of it.
According to official government estimates, moving wholesale markets onto on-chain rails could generate up to £33 billion in annual economic output for the country and up to £14 billion in additional tax receipts each year by 2035.
To bridge this vast financial gap, the government needs battle-tested networks. Ripple, which will now work on the same committee as Wall Street pillars such as BlackRock, Goldman Sachs, and J.P. Morgan, as well as infrastructure giants Euroclear and Bloomberg, is expected to provide the government with established international technological expertise to handle these heavy institutional volumes.
The roadmap: Digital gilts and 2027 deadline
The working group's next 12 months are structured around strict deadlines, with an immediate focus on the fixed-income market as the most advanced sector ready for disruption. Priorities include the launch of DIGIT, the United Kingdom's sovereign digital bonds, as well as the transition of collateral markets into a digital format.
At the same time, nine dedicated action groups have been tasked with deploying end-to-end technology use cases and conducting full live testing of tokenized repo transactions by spring 2027.
Feedback from financial-sector participants on the first stage of the reform will be collected until September 4, 2026, after which the project will move directly into the practical implementation stage, permanently shifting the landscape of British capital.
Dan Burgin
U.Today Editorial Team
