Sounds like they are looking at offering COINS that have their own Blockchain not Tokens (the latter rely on other blockchains) that decision seems to be made already with the main offerings initially being BTC, ETH etc. I received a survey from SWF last year and it was asking whether I hold Crypto in a Wallet or Exchange I use a wallet, amongst other issues I think they would be considering how the clients crypto would be held with recent exchanges getting hit and customers losing the ability to withdraw funds!
Ann: Change of Director's Interest Notice, page-41
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