Overview

• The consultation sets out how asset managers could operate tokenised fund registers within current FCA rules.
• The FCA proposes an alternative dealing model for authorised funds to streamline the buying and selling of units.
• A roadmap explores use of public blockchains such as Ethereum and fully on‑chain settlement, after prior UK efforts focused on private ledgers.
• The regulator is seeking feedback on permitting stablecoins as a settlement option for tokenised fund transactions.
• The initiative aims to widen access and appeal to younger investors, with final rules to follow industry input under the FCA’s five‑year innovation strategy.