Woofun AI reports that the UK Treasury has officially established a wholesale digital market task force comprising over 50 financial institutions, including BlackRock, Goldman Sachs, JPMorgan, and Morgan Stanley. Supported by the City of London Corporation, the group aims to implement tokenization in UK financial markets within one year, starting with tokenized repurchase agreements.

Treasury Commissioner Chris Woolard projects that tokenization could generate up to £33 billion in additional annual economic output and £14 billion in tax revenue for the UK by 2035.

Additionally, BCG estimates the global tokenized real-world asset market may reach $88 trillion by that same year.