Asset Tokenization Heats Up — UK Treasury Joins Global Race to Digitize Finance

TradingKey – On July 16, the UK Treasury officially announced its support for exploring asset tokenization in financial markets, aiming to accelerate blockchain adoption across the financial sector. The move positions the UK alongside other global leaders racing to modernize capital markets through distributed ledger technology (DLT).

On July 10, the U.S. SEC issued a statement reaffirming that tokenized securities remain subject to federal securities laws, regardless of their digital format. Commissioner Hester Peirce emphasized that tokenization does not alter the legal nature of assets.

On June 26, Hong Kong released its Digital Asset Development Policy Declaration 2.0, outlining plans to promote financial asset tokenization. On July 13, Financial Secretary Christopher Hui stated that Hong Kong has already issued tokenized green bonds, and may expand into ETFs and commodities.

In December 2024, South Korea launched a tokenized deposit pilot, led by the Bank of Korea, the Ministry of Science and ICT, and the Financial Services Commission, signaling its commitment to digital finance innovation.