Key facts
- Chris Woolard CBE, former interim CEO of the FCA and current EY partner, has been appointed the UK's Wholesale Digital Markets Champion.
- The appointment, announced in April 2026, aims to modernize the City of London's financial systems through blockchain infrastructure and tokenized assets.
- Woolard's mandate includes driving the adoption of digital tokens representing traditional assets like bonds and equities.
- The UK government's 'Digital Big Bang' strategy includes regulating stablecoins by late 2026.
- The Payment Systems Regulator (PSR) will merge with the FCA to streamline regulatory processes for fintech firms.
- The Centre for Finance, Innovation and Technology (CFIT) will receive an additional £1 million in funding to support SMEs accessing credit.
Chris Woolard CBE, a prominent figure in UK financial regulation and former interim CEO of the Financial Conduct Authority (FCA), has been appointed as the UK's first Wholesale Digital Markets Champion. The role, announced by HM Treasury in late April 2026 during London's Fintech Week, signifies a strategic push towards a tokenized economy and the modernization of the City of London's core financial systems.
Woolard, who is also a partner at EY, will lead efforts to bridge the gap between government and the private sector, encouraging the adoption of digital tokens that represent traditional assets such as gilts, corporate bonds, and equities. He stated that an open dialogue between sectors is crucial for enhancing the UK's global competitiveness as financial markets transition to digital, tokenized systems.
This appointment is part of a broader legislative initiative, including the 2026 Payments Package, designed to provide regulatory certainty for international firms. Key reforms include the introduction of primary legislation to regulate stablecoins by late 2026, treating them as formal payment instruments under FCA and Bank of England oversight. Additionally, the Payment Systems Regulator (PSR) will be integrated into the FCA to reduce administrative burdens for fintech firms. The Centre for Finance, Innovation and Technology (CFIT) will also receive an additional £1 million in funding to help small businesses access credit through automated platforms.