FCA: CP25/28: Progressing fund tokenisation
14 Oct 2025 (UPDATED: 13 Mar 2026)
United Kingdom
1 min read
Proposals in this CP include: guidance for operating a tokenised fund under the Blueprint model; introducing an optional new model for direct dealing in conventional and tokenised authorised funds; a roadmap to advance fund tokenisation and address key barriers, and a discussion on future tokenisation models that use DLT to provide tokenised portfolio management at retail scale and how regulation may need to change to be fit for the future. Responses are required by 21 November 2025 (with regard to chapters 2 to 4) and on future tokenisation models by 12 December 2025 (with regard to chapter 5).