The U.K. Financial Conduct Authority (FCA) has opened a consultation on its plans to support “tokenization” – the digital representation of assets on distributed ledger technology (DLT). It is calling for firms to respond to the consultation before November 21.

The financial regulator said in a press release on Oct. 7 that it wants to provide clarity and support the adoption of this new technology to help the sector grow. The U.K.’s asset management sector currently comprises around 2,600 firms managing £14 trillion of assets for U.K. and global clients.