UK Regulator Reportedly Preparing Rules for Tokenized Gold

The UK’s Financial Conduct Authority has reportedly been in discussions with banks and industry participants to develop regulatory standards for tokenized gold. The regulator is also seeking feedback on how such products could be used as collateral in wholesale markets, according to people familiar with the matter.

London’s Role as a Global Gold Hub

The move comes as London remains the world’s largest over-the-counter gold trading center, handling roughly 70% of global notional gold trading volume. Establishing clear rules for tokenized gold could strengthen the city’s position as digital asset markets continue to expand.

The development follows a broader UK effort to grow tokenized financial markets, with an industry task force estimating that tokenization could add tens of billions of pounds to the country’s annual economic output by 2035. The roadmap also includes plans for the UK’s first tokenized government bond by early 2027, alongside efforts to make tokenized securities usable for trading, settlement, and as collateral.