UK investment fund has been approved for tokenization

On November 24th, according to The Block, UK investment funds have been approved for tokenization. The Investment Association stated in a statement that tokenization of funds is expected to improve efficiency, transparency, and international competitiveness in the investment management field.
The report "UK Fund Tokenization - Implementation Blueprint" outlines a model that aims to operate within existing legal and regulatory frameworks, which companies can implement immediately. The model allows FCA-authorized funds to use tokenization for sales and redemption transactions, provided they meet specific criteria, such as investment portfolios consisting only of mainstream investment assets and maintaining traditional valuation and settlement processes.