A coalition of leading associations in the finance, tech, and digital sectors has written a letter to the UK government, urging it to include Distributed Ledger Technology (DLT) as a core strand of the UK-US Tech Bridge.
With Trump set to visit the UK from September 17-19, this letter comes at a crucial time as Britain looks to assert its dominance in the digital finance sector.
The signatories believe that DLT is a major driving force for the development of next-generation infrastructure and financial services, facilitating cheaper and faster payments, improving capital flows, and driving efficiencies and productivity.
The letter highlights two key sectors of DLT that the UK government must pay close attention to: tokenization and stablecoins.
The coalition stresses that this is a once-in-a-generation opportunity to create the world’s first transatlantic framework for DLT, with both the US and UK being major global economies of strategic importance.
While the UK handles nearly 40% of global FX turnover, the US is home to the world’s largest capital pool and the epicenter of digital asset innovation.
Amid growing competitive pressure, the letter recommends forming a joint sandbox with political backing to seize the opportunities of new technology and cement Britain’s role as the world’s leading hub for digital finance innovation.
As the world’s top financial powerhouses pivot toward digital assets such as tokenized securities and stablecoins, it’s inevitable that the next few decades of global finance will be dominated by cryptocurrencies and the broader digital finance ecosystem.
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Disclaimer: Crypto investments are highly risky. This article is not financial advice, so kindly do your own research before investing.