UK Proposes Near-24/7 Settlement to Prepare Markets for Tokenization
The Bank of England plans to extend settlement infrastructure hours to support the integration of tokenized finance into UK wholesale markets.Summary
The Bank of England has proposed extending the operating hours of its Real-Time Gross Settlement (RTGS) and Clearing House Automated Payment System (CHAPS) toward near-24/7 availability. Developed in collaboration with the Financial Conduct Authority (FCA), this initiative aims to modernize UK wholesale markets to accommodate tokenized finance, cross-border payments, and emerging settlement models. The consultation period remains open until July 3, with a feedback statement expected this summer. Additionally, the Prudential Regulation Authority (PRA) has updated its guidance to ensure tokenized instruments receive consistent regulatory treatment with traditional assets, while preparing for a long-term framework to be established by 2028.
(Source：Cointelegraph)