DevelopingEconomy
UK digital gilt (DIGIT): the government's first bond on a distributed ledger
Six banks have been named to run the pilot sale, and talks with investors can now begin.
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Digital assets
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Where things stand
- DevelopingUK digital gilt (DIGIT): the government's first bond on a distributed ledger
Six banks have been named to run the pilot sale, and talks with investors can now begin.
Key facts
- The Treasury chose HSBC's Orion platform to host the DIGIT pilot after a competitive tender, and hired the law firm Ashurst for legal work. GOV.UK
- The Treasury appointed Barclays, HSBC, Lloyds, Morgan Stanley, NatWest and RBC Capital Markets as joint lead managers for the DIGIT pilot sale. GOV.UK, GOV.UK
- The pilot issuance is expected by the first quarter of 2027. GOV.UK, GOV.UK
Timeline
- The Treasury appointed Barclays, HSBC, Lloyds, Morgan Stanley, NatWest and RBC Capital Markets as joint lead managers for the DIGIT pilot sale. GOV.UK, GOV.UK
- At Mansion House, the Chancellor said the government is preparing for possible further DIGIT issuances if the first one succeeds. GOV.UK
- HSBC passed Gate 2 of the Digital Securities Sandbox, the first entrant cleared to run live digital securities depository services. Bank of England, GOV.UK
- The Treasury chose HSBC's Orion platform to host the DIGIT pilot after a competitive tender, and hired the law firm Ashurst for legal work. GOV.UK