Kingdom

United

The Investment Association (IA) in the United Kingdom has now emphasized that this shift from conventional record-keeping systems will propel the financial industry towards enhanced efficiency and transparency. Investment managers are can revolutionize fund management by tokenizing their funds. 
The report produced by IA underscores the potential benefits of fund tokenization. They envision a future where <a href="https://news.todayq.com/franklin-templeton-ceo-predicts-tokenization-revolution/">tokenized units</a> on distributed ledger technology (DLT) lead to a more streamlined financial ecosystem. 
A shared <a href="https://news.todayq.com/report-tokenization-hype-has-made-chainlink-the-safest-bet/">real-time record-keeping system</a> is can drastically reduce fund administration costs, simplify reconciliation processes, and give faster settlement times. Managers should maintain regulatory caution 
Sarah Pritchard, Executive Director of Markets and International at the Financial Conduct Authority (FCA), acknowledged the milestone. She also said that the regulator is commitmented to explore innovative angles . 
This is an exciting milestone and paves the way for exploring more transformative use cases in the future. Sarah Pritchard, Executive Director of Markets and International at the FCA 
The IA laid down key principles for the implementation of tokenized funds. The association highlighted their relevance to both domestic and international investors. They furher implied that it will offer opportunities to the widest possible range of firms across the sector. 
The UK government has expressed their support for this revolutionary model. They mentioned their commitment to foster innovation in the nation. The government declares. 
The government warmly welcomes this publication. It will advance the wider conversation on the role of technology in asset management, and signals that the UK is welcoming of innovation and open for the exciting new business of the future Digital asset surge in UK investment firms 
Recent reports reveal that a quarter of asset managers and <a href="https://news.todayq.com/despite-heavy-losses-hedge-funds-remain-bullish-on-the-crypto-and-web3-sector/">hedge funds</a> in the US, UK, and Europe have recruited senior executives to manage their digital asset strategies. 
A survey indicated that 24% of asset management firms have already adopted digital asset strategies. Additional 13% plan to do so in the next two years. 
This latest move aligns with the global trend of embracing digital assets. It marks a pivotal moment in the evolution of the financial landscape in the UK. 
© Todayq News

UK fund managers set to embrace fund tokenization

Todayq News

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