BlackRock and HSBC Join U.K. Tokenization Taskforce Targeting Live Tokenized Repo Trial by Spring 2027

BlackRock and HSBC have joined a U.K. tokenization initiative that projects tokenization could add up to $44 billion to the country’s annual economic output by 2035. According to NS3.AI, the projection was cited from estimates by Barclays and PwC, as the effort brings together a 54-member taskforce focused on advancing tokenized financial market infrastructure. The taskforce plans to run a live tokenized repurchase agreement (repo) trial by spring 2027. The report also calls for a digital gilt pilot to be launched no later than the first quarter of 2027.