The UK government has assembled one of the most significant financial coalitions in modern history. Backed by HM Treasury and the City of London Corporation, the Wholesale Digital Markets Cha
The UK government has assembled one of the most significant financial coalitions in modern history. Backed by HM Treasury and the City of London Corporation, the Wholesale Digital Markets Champion and Taskforce now counts 54 institutions among its members.
Notably, Ripple had a seat at the table, sharing that space with BlackRock, Goldman Sachs, J.P. Morgan, Morgan Stanley, HSBC, Barclays, UBS, and more. Crypto commentator BankXRP (@BankXRP) shared the official taskforce member list on social media, highlighting the scale of institutional participation.
The image shows Ripple listed alongside some of the most powerful names in global finance, a coalition targeting up to £33 billion in additional UK economic output by 2035.
Ripple joins BlackRock and J.P. Morgan to tokenize £33 billion UK debt https://t.co/RuBktLpwXspic.twitter.com/tihBuZuO1x
— 𝗕𝗮𝗻𝗸XRP (@BankXRP) July 13, 2026
Ripple is not simply a name on a list. The company has a defined operational role within the taskforce. Ripple is actively contributing to building secondary markets, tokenizing collateral, and supporting the issuance of the UK Digital Gilt Instrument, known as DIGIT, over the next 12 months.
The DIGIT pilot is central to the taskforce’s ambitions. Its success would make the UK the first G7 nation to issue tokenized sovereign debt. The taskforce has set a live tokenized repo trial by spring 2027 as its first milestone, with fixed income and derivatives to follow.
Ripple’s acquisition of prime broker Hidden Road for $1.25 billion features in the Treasury-backed report as evidence of institutional-grade infrastructure converging with crypto-native capabilities. Santander UK’s white-label use of Ripple’s rails receives similar recognition.
Ripple’s track record with these same institutions runs deeper still. In May, it completed the first cross-border tokenized Treasury settlement on the XRP Ledger alongside Ondo Finance, Mastercard, and J.P. Morgan.
Ripple has positioned the XRP Ledger as the underlying infrastructure for this new financial era. Earlier in 2026, Ripple partnered with Aviva Investors to launch tokenized traditional funds on the XRP Ledger. Through tokenized instruments on the XRPL, the company can offer a cheaper, better, and faster alternative to legacy equivalents.
The taskforce’s projected global market for tokenized real-world assets sits at $88 trillion by 2035. Ripple is one of only a handful of crypto-native firms granted full participation in the coalition driving that shift. The gap between XRP as a payments asset and XRP as institutional financial infrastructure is closing.
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