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Bank of England Consults Tokenised Collateral for UK CCPs

By Drooid · Oct 30, 2026 · How we work

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Summary

Bank of England launched a consultation on tokenised collateral for UK central counterparties.
The framework does not bar UK CCPs from accepting tokenised eligible collateral that meets standards.
The paper was published 29 October 2026; responses are due 12 February 2027.
It seeks evidence on stablecoins, tokenised money-market fund units and tokenised gold as collateral.
Deputy Governor Sarah Breeden said the proposal adds no new obligations and follows the ‘same risk, same outcome’ principle.

History

The 2008 crisis led to the Dodd-Frank Act, signed July 21 2010, which required central clearing of standardized OTC derivatives. By 2015 the CFTC said 85 % were cleared through central counterparties, reshaping risk management. In October 2026 the Bank of England, headed by Sarah Breeden, asked JPMorgan Chase to accept stablecoins, gold and money-market fund units as collateral, extending that clearing framework to blockchain assets.

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The 2008 crisis led to the Dodd-Frank Act, signed July 21 2010, which required central clearing of standardized OTC derivatives. By 2015 the CFTC said 85 % were cleared through central counterparties, reshaping risk management. In October 2026 the Bank of England, headed by Sarah Breeden, asked JPMorgan Chase to accept stablecoins, gold and money-market fund units as collateral, extending that clearing framework to blockchain assets.

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