The City of London Corporation’s roster lists Hedera and says membership is closed to additional organizations.
Under the delivery plan, BlackRock and NatWest are responsible for a repo project aiming for full on-chain delivery by April 2027. The government's first report describes repo as secured borrowing and lending of cash.
Published July 13, 2026, the first report names repo, fixed income and uncleared over-the-counter derivatives as priority areas. It divides the work among nine action groups. Four cover parts of the market value chain, including primary issuance and funds, secondary markets, collateral and settlement infrastructure. Another four address cross-cutting issues such as tax, legal matters, financial-crime compliance and resilience, while a ninth handles communications. The structure combines work on specific financial activities with shared legal and operational questions.
The delivery plan identifies Wholesale Digital Markets Champion Christopher Woolard CBE as chair of the Orchestration Group, which coordinates work across the action groups. It schedules Woolard's second report for July 2027.
The first report frames the program as an effort to keep U.K. market activity and infrastructure competitive, capture efficiency gains and reduce the risk that standards and infrastructure develop offshore. Those are stated aims, not reported outcomes. The report also notes that bilateral repo transactions have already taken place on-chain. Woolard has described tokenized markets as a “network game” and said the U.K.'s position in them is “not guaranteed.”
The taskforce roster lists its next meeting for Monday, Oct. 19.
