The U.S. and UK Just Agreed on a Plan for the Future of Tokenized Finance

TLDR

• The U.S. Treasury and UK’s HM Treasury released a 10-point roadmap to coordinate digital asset regulation
• Both governments want to reduce regulatory friction for tokenized securities and stablecoins moving between their markets
• A private-sector-led group will be created to test cross-border tokenization projects
• Stablecoins should be “fully backed on at least a one-to-one basis by high-quality, liquid assets,” the joint statement said
• The UK could add up to $44 billion to its annual economic output by 2035 if it becomes a leading tokenization jurisdiction

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The U.S. and U.K. have released a joint roadmap aimed at aligning their rules on tokenized assets and stablecoins. The plan, published Tuesday by the U.S. Department of the Treasury and HM Treasury, came from the Transatlantic Taskforce for Markets of the Future.

UK and US Seek Stablecoin Regulatory Convergence and Cross-Border Market Access

The UK and US governments issued a joint statement supporting closer coordination on stablecoin regulation and their use in cross-border payments, settlement and capital markets. Stablecoins held out… pic.twitter.com/Y5c77Jqs60

— Wu Blockchain (@WuBlockchain) July 14, 2026

The 10-point roadmap covers digital assets and traditional capital markets. It does not introduce new laws. Instead, it identifies areas where regulators in both countries plan to work more closely together.

Cross-Border Tokenization Takes Center Stage

One of the key proposals is creating an industry-led working group to test cross-border use cases for tokenized assets. Regulators including the U.S. Securities and Exchange Commission, the Commodity Futures Trading Commission, the UK’s Financial Conduct Authority, and the Bank of England are named as participants.

The two governments also want to find shared approaches to settling tokenized securities. They will explore whether stablecoins or tokenized money market funds could be used as collateral in financial markets.

The roadmap also calls for a review of global banking standards for crypto assets. The goal is to build policy frameworks that let stablecoins, tokenized bank deposits, and other forms of digital money coexist.

Stablecoin Rules Move Toward Alignment

Both governments issued a joint statement backing cross-border stablecoin development. They said stablecoins “should be fully backed, on at least a one-to-one basis, by high-quality, liquid assets.”

This language lines up with the Guiding and Establishing National Innovation for U.S. Stablecoins Act, signed into law in 2025. That law is waiting for regulations to be approved before taking effect in January 2027.

The statement said each government intends to “tailor its requirements to seek comparable outcomes for comparable risks,” while avoiding market distortions or discouraging cross-border competition.

A separate report from a UK government-backed industry task force said the UK could add up to $44 billion to its annual economic output by 2035. That figure depends on the UK becoming one of the leading jurisdictions for tokenization and adoption keeping pace with major peers.

The report called on the UK to issue tokenized bonds by the first quarter of 2027 and to begin testing financial transactions on the blockchain.

On traditional finance, the roadmap calls for the SEC and FCA to make cross-border capital raising easier. Regulators will also review derivatives market supervision, market data transparency, and international accounting standards.

Treasury Secretary Scott Bessent said the recommendations reflect the shared commitment of both countries to supporting economic growth, innovation, and competition.