UK Plans Tokenized Gold Push as FCA Explores New Market Rules

The UK is planning a digital makeover for gold. The Financial Conduct Authority (FCA) is reportedly looking to launch new roles for tokenized gold, removing existing regulatory hurdles. With this initiative, the country could see more gold-backed products entering the digital financial markets.

UK FCA explores new rules for tokenized gold

On September 14, 2026, Financial Times published a report revealing the FCA’s major move in the digital financial market. The regulator is now considering introducing new rules that will support tokenized gold and related products.

According to the latest update, the FCA is checking whether certain tokenized gold products could be exempt from the UK’s collective investment scheme (CIS) and alternative investment fund (AIF) rules. Currently, the Financial Conduct Authority is working closely with HM Treasury and the Bank of England to discuss the possible changes.

Notably, the initiative comes amid the growing interest in tokenized real-world assets (RWAs), including gold, globally. More financial companies are exploring ways to bring traditional assets on-chain. In London, it is particularly important as the UK currently accounts for around 70% of global gold trading volumes.

FCA seeks public feedback

As per the report, the UK’s financial regulator is seeking public views on whether tokenization could make it easier to trade, hold, move, and use gold in the UK market. The regulator is also exploring the possibility of using tokenized gold as collateral in wholesale financial transactions.

The public feedback will be open until October 23, 2026. The regulator will analyse the feedback to decide on new guidelines, exemptions, etc. If needed, the FCA may introduce a separate regulatory framework for tokenized gold based on the feedback.

FCA to advance existing framework

Further, the FCA elaborated on the challenges of the existing regulatory framework. As of now, there is growing uncertainty surrounding the rules governing some tokenized gold products. Especially, it is not yet clear whether these products fall under the collective investment scheme (CIS) or alternative investment fund (AIF) rules. This uncertainty could make the market less attractive to investors. Thus, the confusion has also made it challenging for financial firms to launch new tokenized gold products.

Now, the financial watchdog is attempting to address these concerns. After seeking public feedback from the industry, the FCA is expected to explore possible regulatory changes to support the growth of tokenized gold. The regulator may also introduce a separate framework for the industry, allowing businesses and investors to receive greater clarity. Such a move could also support the growth of RWA tokenization in the UK.

Tokenized gold gains global popularity

Interestingly, the UK is not the only country exploring ways to support the growth of tokenized gold. Several other governments have already moved ahead with similar moves. Along with RWA tokenization, many countries are showing increased interest in tokenized gold.

For example, Hong Kong is one of the most active tokenized gold markets. In 2023, the regulators launched a special framework for the industry, encouraging gold and RWA tokenization. Singapore is another major country that has introduced strategic rules to support the expansion of the tokenized gold market. In April 2026, OCBC, Lion Global Investors and DigiFT launched Asia’s first tokenized physical gold fund.

Countries like the UAE and Switzerland have also taken initiatives to strengthen their positions in the gold tokenization space. Abu Dhabi Global Market (ADGM) recently accepted Tether Gold as a legal spot commodity. Switzerland’s existing crypto regulations include a legal foundation for tokenized assets.