Blackrock and JPMorgan join the UK tokenization task force with 54 companies, potentially increasing annual output by up to $44 billion by 2035

Odaily reports that the UK government-supported Digital Markets Taskforce has brought together 54 financial companies to develop real-time tokenization use cases, with the first focus being end-to-end tokenized repo transactions. Members include BlackRock, Goldman Sachs, HSBC, JPMorgan, Morgan Stanley, UBS, Barclays, Citi, State Street, a certain exchange, Circle, Ripple, and Wintermute. A report backed by the UK Treasury estimates that by 2035, the tokenization market could add up to £33 billion in annual output for the UK; real-world asset tokenization could reach $88 trillion by 2035, with the UK’s potential benefits peaking at an additional $44 billion in annual economic output and $18.7 billion in annual tax revenue. The roadmap also proposes tokenization use cases for fixed income and uncleared OTC derivatives, and recommends piloting the UK Digital Gilt Instrument (DIGIT) for the first issuance by Q1 2027. (Bitcoin.com News).