UK Weighs Tokenized Gold Rules as Shanghai Challenges London
The UK is considering new rules for tokenized gold as London faces rising competition from Asian bullion centers. The Financial Conduct Authority (FCA) has consulted major financial firms about regulating blockchain-based gold products. The discussions also examine whether tokenized gold could serve as collateral in wholesale markets.
London Seeks a Digital Edge
Tokenized gold links digital tokens to physical bullion held by an issuer. This structure could allow investors to transfer ownership without moving gold between vaults. Besides, blockchain systems could streamline trading, settlement, clearing, and custody across financial markets.
However, London faces growing pressure from Shanghai and Hong Kong to strengthen their bullion markets. Shanghai Gold Exchange and Hong Kong authorities continue developing infrastructure for international gold trading. Consequently,…
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