UK releases wholesale financial market digitalization strategy to promote DLT and stablecoin innovation

According to ChainCatcher, the UK government website announced a wholesale financial market digitalization strategy, explicitly supporting the application of Distributed Ledger Technology (DLT) and asset tokenization in the wholesale financial sector. The strategy proposes that the government will promote industry identification of DLT's best application scenarios, support financial asset tokenization and post-trade process digitalization, and test various digital payment solutions, including stablecoins, through a "digital securities sandbox". Additionally, the UK will improve relevant legislation and regulatory frameworks, encourage industry cross-market alliances, drive digital innovation, and consolidate its leading position in global financial technology.