Summary
- The UK launched a 54-firm tokenization taskforce on July 13 2026 that includes BlackRock, Goldman Sachs, JPMorgan, Morgan Stanley, HSBC and UBS.
- Government estimates project the initiative could add up to $44 billion in annual UK economic output by 2035.
- The announcement coincided with US Senate Banking updates to the CLARITY Act that drew pushback from banking groups on stablecoin rules.
The UK government launched a cross-industry tokenization taskforce with 54 firms on July 13 2026. BlackRock and HSBC lead the group. It targets wholesale financial markets.
US crypto rules lag behind.
Context
Real-world asset tokenization attracts more institutions now. They see faster settlements and lower costs in bonds, funds and derivatives. The taskforce lets the UK test these ideas quickly.
Banks resist US stablecoin plans.
The Senate Banking Committee released new CLARITY Act text at the same moment. That creates a sharp contrast in timelines.
Details
BlackRock and HSBC guide the 54 firms. Goldman Sachs, JPMorgan, Morgan Stanley and UBS join them. The group will build real use cases for tokenization in wholesale markets.
"BlackRock and HSBC back a UK tokenization push a government report says could add $44 billion to annual output by 2035."
, Finance Yahoo (finance.yahoo.com)
Earlier analysis linked economic gains to wider use of tokenized tools. The taskforce sticks to institutional uses only.
Banks push back on stablecoin rules in the CLARITY Act. The bill moves forward anyway. UK efforts pick up speed right now.
Outlook
The taskforce should release first findings soon. The CLARITY Act keeps advancing in the Senate. Observers will check if UK pilots create live tokenized instruments first.