Technology Working Group publish second fund tokenisation report

The Technology Working Group, chaired by Michelle Scrimgeour and supported by the Investment Association, published a second report on March 26, 2024, titled "Further Fund Tokenisation: Achieving Investment Fund 3.0 Through Collaboration." The report builds on the group's November 2023 first report and explores using tokens as collateral for money market funds, along with tokenised funds' role in a fully "on chain" investment market that streamlines back-office functions. Economic Secretary to the Treasury Bim Afolami welcomed the report, saying the UK is well placed to use technology in investment management. The group's third phase will focus on how the sector can harness artificial intelligence.