The UK investment fund has been approved for tokenization

ChainCatcher news, according to The Block, UK investment funds have been approved for tokenization. The Investment Association stated in a statement that fund tokenization is expected to enhance efficiency, transparency, and international competitiveness in the investment management sector.

The Investment Association, in collaboration with the UK Treasury, the Financial Conduct Authority (FCA), and investment management firms such as BlackRock, released the report titled "UK Fund Tokenization - Implementation Blueprint" today, as part of the government's Asset Management Taskforce Technical Working Group roadmap. The report outlines a benchmark model for tokenization, designed to operate within the existing legal and regulatory framework, allowing businesses to implement it directly.