A Treasury report targets moving tokenized repo, fixed income, and funds onchain within 12 months, citing Ripple as a key model.
A UK Treasury-backed report outlines a plan to transition tokenized repo, fixed income, and funds from sandbox pilots to live markets within 12 months. The proposal highlights Ripple’s hybrid model, combining permissioned institutional networks with permissionless blockchains, as a blueprint for convergence between traditional finance and crypto assets.
The report warns of unresolved settlement-finality risks on public blockchains but emphasizes the urgency of establishing domestic standards to prevent liquidity from shifting offshore. Ripple’s recent acquisition of prime broker Hidden Road and Santander UK’s use of its payment rails are cited as evidence of growing institutional adoption.
The initiative, led by Treasury’s wholesale digital markets champion, positions the UK as racing to lead in onchain wholesale markets, with Ripple playing a central role in the task force driving the process.