The United Kingdom and the United States have established a new “Transatlantic Taskforce for Markets of the Future”, designed to strengthen collaboration on capital markets and digital asset regulation. The move, announced in London following US President Donald Trump’s state visit, reflects both nations’ growing interest in tokenisation, stablecoins and the future of global financial services.
UK Chancellor Rachel Reeves and US Treasury Secretary Scott Bessent confirmed the taskforce after high-level talks at Downing Street. The group, co-chaired by officials from both finance ministries, will bring together regulators responsible for capital markets and digital assets. A first set of recommendations is expected within 180 days.
A Strategic Push for London’s Financial Revival
For the UK, the initiative represents an opportunity to reinvigorate London’s position as a premier financial hub. In recent years, several high-profile companies have abandoned their London listings for New York, citing higher valuations and deeper liquidity. Reeves has faced pressure to reverse this trend and to ensure the City remains competitive after Brexit.
Crypto and digital assets now sit at the heart of that strategy. Industry leaders argue that embracing blockchain-based tokenisation could turbocharge the UK’s financial ecosystem, cutting costs, broadening access and creating new investment opportunities. The UK Treasury said the taskforce would focus on reducing cross-border burdens for firms raising capital while working on regulatory alignment with the US.
Former chancellor George Osborne, now a global adviser to Coinbase, has been among the most vocal critics of the UK’s cautious stance. He warned recently that Britain risks becoming irrelevant in a revolution reminiscent of the “Big Bang” deregulation of the 1980s if it fails to match the pace set by Washington.
Trump Administration Embraces Crypto
On the US side, the initiative reflects a sharp shift under President Trump’s second term. Since returning to the White House in January, Trump has pursued a pro-crypto agenda: appointing industry-friendly regulators, rolling back enforcement lawsuits and signing landmark legislation covering stablecoins.
Earlier this year, the White House hosted its first crypto summit, signalling its ambition to weave digital assets into the financial fabric of the United States. Trump and his family have long-standing ties to the sector, with direct investments and advisory roles in several blockchain ventures.
The US Treasury is positioning tokenisation as a central pillar of capital market reform, aiming to expand financial inclusion and unlock deeper liquidity. By partnering with the UK, Washington hopes to cement a transatlantic corridor for crypto innovation.
Stablecoins and Tokenisation in Focus
A central element of the new taskforce will be the development of policy frameworks for tokenisation and stablecoins. Tokenisation, the process of issuing traditional financial assets such as stocks or bonds on a blockchain has been touted as a transformative shift that could democratise access to capital markets.
Coinbase and other leading exchanges have argued that both nations must commit to enabling tokenised assets to be launched and distributed across jurisdictions. They are also calling for mutual recognition of regulatory regimes, ensuring that compliant firms do not face duplicative requirements when operating transatlantically.
Stablecoins are another flashpoint. The US is pressing ahead with legislation to integrate dollar-backed stablecoins into wholesale markets, while the Bank of England has proposed caps that critics say could stifle sterling-backed alternatives. Industry groups, including the UK Cryptoasset Business Council, insist that the UK must show stronger leadership by supporting a viable pound-linked stablecoin to remain competitive.
Industry Reaction and Economic Stakes
The announcement has been met with enthusiasm from financial institutions and crypto trade bodies. The UK Cryptoasset Business Council described it as “a clear vote of confidence from the US in the UK economy”, adding that success could “turbocharge the City of London and the transatlantic economy”.
Coinbase echoed that sentiment, calling the partnership historic and pledging to work alongside policymakers to deliver on the promise of tokenisation. The company stressed that stablecoins are the only current on-chain settlement mechanism suitable for financial markets and must be embraced for progress to be made.
The stakes are high: financial services account for more than 12% of the UK’s GDP, while the US and UK together oversee two of the world’s deepest capital markets. Coordinated action could not only revitalise London but also entrench the transatlantic alliance as the global leader in digital finance.
The Road Ahead
The taskforce has been given six months to present its initial recommendations, but its creation marks only the first step. Questions remain about how closely the two nations will align on regulatory philosophy, particularly as the US accelerates while the UK remains cautious.
If successful, the initiative could establish a blueprint for global crypto cooperation, with the US and UK setting standards that shape how digital assets are regulated worldwide. If it falters, however, London risks being left further behind as New York and other hubs press ahead.
For now, industry leaders are optimistic. With tokenisation, stablecoins, and regulatory recognition on the agenda, the new taskforce could redefine the future of global finance and secure London’s role in it.
