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UK permits tokenization for investment funds
A group set up by the U.K. Treasury proposed allowing licensed investment funds to tokenize assets on DLT if they meet set guidelines, which the Financial Conduct Authority has approved.
A group set up by the U.K. Treasury proposed allowing licensed investment funds to tokenize assets on DLT if they meet set guidelines, which the Financial Conduct Authority has approved.
Stage one of tokenizing assets via blockchain involves gaining momentum and short-term progress, while the second stage will see a hastier approach as the U.K. Investment Association engages industry players.
The Investment Association believes that blockchain technology can be used to bring greater efficiency, cost savings, and transparency to mutual funds, according to the Financial Times report.