Britain has set out a plan to reflect tokenisation and new forms of digital currency in core infrastructure for its future retail payments system.
Cointelegraph reported recently that the UK Treasury published a revision to the national retail payments modernisation roadmap on behalf of the Payments Vision Delivery Committee and set out a direction for building a “diverse multi-currency ecosystem”.
The revision includes tokenisation and digital currencies as key elements of the future retail payments ecosystem. It calls for building infrastructure that allows emerging digital currencies to interoperate with existing payment systems.
The UK Treasury presented programmable payments, including approaches based on tokenisation, as a product-level structure that can support payment innovation in Britain. The revision supplements the national payments vision document released in November last year.
The UK Financial Conduct Authority (FCA) announced a crypto regulatory framework earlier this week. It will accept licensing applications from September through Feb. 28, 2027, and the new regime will take effect from Oct. 25, 2027. Trading platforms, custody firms, stablecoin issuers and staking companies must obtain FCA authorisation to operate in Britain under the new framework.
Chi-gyu Hwang (황치규)
delight@d-today.co.kr