Ripple has been selected to join a 54-member taskforce convened by the UK Treasury to deliver live tokenization use cases for wholesale financial markets over the next 12 months.
The Wholesale Digital Markets Taskforce, announced in July, aims to scale tokenized bond and repo markets in Britain. Ripple will support work on secondary markets, tokenized collateral, and DIGIT, the UK Digital Gilt instrument, a tokenized government bond framework. The taskforce includes market-leading institutions across banking, asset management, and financial infrastructure.
The UK's push to establish itself as a hub for wholesale digital assets has drawn major financial players into its planning structure. BlackRock, JPMorgan, Coinbase, and other large institutions joined the 54-firm group. The effort follows published guidance on tokenization frameworks. Regulators and market participants are moving standard-settlement and collateral infrastructure onto blockchain rails.
Tokenized repos, repurchase agreements settled on distributed ledgers, represent one of the taskforce's core targets. A spring 2027 timeline has been set for repo market use cases. Tokenized collateral allows market participants to pledge digital assets as security for transactions, reducing settlement friction and capital inefficiency in wholesale markets.
GIR is designed to allow institutional investors to hold and trade government debt on blockchain networks. The instrument sits alongside existing gilt issuance and is intended to demonstrate feasibility at scale within the UK's regulatory perimeter.
Ripple's role builds on its existing work with central banks and financial institutions on cross-border payment and settlement infrastructure. The company has positioned itself in the tokenized asset space through partnerships with asset tokenization platforms and central bank digital currency projects.
