Digitalisation and the application of key technologies, such as distributed ledger technology (DLT), are reshaping the landscape of global finance. In this report, TheCityUK has collaborated with Hogan Lovells to consider the transformative potential of DLT in UK financial services, including securities tokenisation, and what critical steps the UK can take to unlock the digitalisation of UK capital markets. The UK’s financial and related professional services industry has long been world class in the use of technology, and this has been reflected in key innovations in DLT and tokenisation. The findings and recommendations outlined in this report are testament to the potential of digitalisation to drive growth, enhance efficiency, and maintain the UK’s position as a leading international financial centre, while also catalysing economic growth across the regions and nations. In recent years, both the government and the industry’s regulators have recognised this potential and have made positive progress to support the adoption of these technologies across the industry, from facilitating safe innovation through the Digital Securities Sandbox to enacting legislative reform to signify the strength of English law for digital assets transactions.

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