According to CoinMeta, as reported by Cointelegraph, the Financial Conduct Authority (FCA) of the UK has been discussing potential regulations for tokenized gold with banks and other industry participants. The FCA is also seeking feedback on the use of tokenized gold as collateral in the wholesale market. The regulatory body is preparing to establish new regulatory standards for tokenized gold. According to data from the World Gold Council, London is the largest over-the-counter gold trading center in the world, accounting for approximately 70% of global nominal gold transactions. The report indicates that Shanghai and Hong Kong pose significant competitive pressure on London, and if London does not modernize its gold market through measures such as tokenization, other markets may take the lead. These discussions are part of the UK's efforts to expand the tokenized financial market. A sector working group supported by the government stated in July that tokenization could add up to £33 billion (about $44 billion) to the UK's annual economic output by 2035. The roadmap also plans to launch the UK's first tokenized government bonds in early 2027 and aims to make tokenized securities available for trading, settlement, and collateral.