London Fights for Gold Supremacy Amid Asian Rivalry

The UK is exploring new regulations for tokenized gold as London faces growing competition from Asian bullion centers. The Financial Conduct Authority (FCA) has consulted major financial firms about regulating blockchain-based gold products, which link digital tokens to physical bullion held by an issuer.

This structure allows investors to transfer ownership without moving gold between vaults and streamlines trading, settlement, clearing, and custody across financial markets.

London is under pressure from Shanghai and Hong Kong, which are developing infrastructure for international gold trading. To stay ahead, London wants to modernize its market while preserving its global position.