Overview

• New guidance explains how firms can run tokenised fund registers within existing rules using the UK “Blueprint” model.
• The regulator proposes an alternative, simplified dealing model for authorised funds to process unit subscriptions and redemptions.
• The roadmap sets out work on key hurdles such as end-to-end on-chain settlement and whether tokenised funds could operate on public networks like Ethereum.
• The move forms part of the FCA’s digital-assets roadmap to bolster UK competitiveness, with engagement alongside overseas regulators as the EU advances under MiCA.
• Consultation documents are live with responses due by November 21 and further discussions through December 12, as major asset managers assess tokenisation and industry reports point to UK bank pilots of tokenised deposits.