Ripple Joins UK Treasury Initiative on Blockchain-Enabled Wholesale Markets

The UK Treasury's Wholesale Digital Markets Taskforce has brought in Ripple to support its tokenisation strategy for wholesale financial markets. Dr. Kamilah Stevenson notes that this is more than just a corporate partnership, as governments can influence standards that banks and market infrastructure providers must follow.

The taskforce plans to move repo workflows onto blockchain rails, which could reduce reconciliation work and accelerate collateral transfers. Repos are central to day-to-day bank funding and liquidity, and the project aims to provide more immediate records of ownership.

Ripple is working with the government-appointed Wholesale Digital Markets Champion to support the initiative. The Treasury plan places a potential value of £33 billion on the initiative and projects about £14 billion in additional annual tax revenue by 2035.