Independent report

Wholesale Digital Markets Champion – first report

Report from the UK’s Wholesale Digital Markets Champion, setting out a framework for the UK financial sector to drive tokenisation of wholesale financial markets.

• From: HM Treasury
• Published: 13 July 2026

Documents

Wholesale Digital Markets Champion - First report

PDF, 563 KB, 71 pages

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Wholesale Digital Markets Champion - Terms of Reference

PDF, 209 KB, 3 pages

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Details

This is the Wholesale Digital Markets Champion’s first report to the Chancellor, following his appointment in April as part of the government’s wider Wholesale Financial Digital Markets Strategy.

The report sets out a delivery roadmap for tokenisation, including nine Taskforce Action Groups, priority policy areas and the case for UK leadership in wholesale digital markets.

Also included on this page is the Terms of Reference for the Wholesale Digital Markets Champion’s role, which was originally published in June.

Published 13 July 2026