US EditionUK picks HSBC as platform provider for its digital bond pilot issuance
The UK’s Digital Gilt Instrument pilot uses HSBC’s blockchain to reduce costs and settlement times, leveraging a platform with $3.5 billion in prior digital bond issuances.
- On Feb 12, the UK chose HSBC's blockchain platform to run its pilot issuance of tokenised government bonds and appointed Ashurst LLP to provide legal services.
- The Digital Gilt Instrument pilot was announced in 2024 to test distributed‑ledger technology and reduce costs, and the UK Treasury selected two firms to address criticism of slow progress on tokenised bonds.
- HSBC says its Orion blockchain platform has enabled more than $3.5 billion in digital bond issuances, including Hong Kong's $1.3 billion green bond last year.
- The pilot aims to slash settlement times and operational costs for market participants, though it remains unclear when the UK government will issue a gilt using the new technology.
- Other jurisdictions including Hong Kong have already completed digital sovereign issuances, but tokenised debt remains a small fraction of global markets.
22 Articles
22 Articles
UK picks HSBC as platform provider for its digital bond pilot issuance
The UK has chosen HSBC's blockchain platform to run the country's pilot issuance of tokenised or digital government bonds, the bank said on Thursday, a move that puts Britain ahead of its G7 peers in exploring blockchain-based sovereign debt.
UPDATE 1-UK picks HSBC as platform provider for its digital bond pilot issuance
The UK has chosen HSBC's blockchain platform to run the country's pilot issuance of tokenised or digital government bonds, the bank said on Thursday, a move that puts Britain ahead of its G7 peers in exploring blockchain-based sovereign debt. The UK's "Digital Gilt Instrument" pilot, which was announced in 2024, tests how distributed-ledger technology could make capital markets more efficient and reduce costs for financial institutions.
HSBC to Support UK Government Digital Bond Pilot
Key Takeaways HM Treasury selected HSBC Orion as the platform provider for the UK’s Digital Gilt Instrument (DIGIT) pilot. The pilot will test issuance, settlement, and secondary trading of a digitally native short-dated gilt using blockchain infrastructure. The program operates within the UK’s Digital Securities Sandbox, separating it from the main debt management framework. The initiative reflects a broader structural push among advanced econ…
In order to carry out its project of tokenized bonds, the United Kingdom has chosen to use the services of HSBC bank. Back to this work, which could make the country the first member of the G7 to realize such a breakthrough. The United Kingdom could become the first G7 country to issue tokenized bonds has appeared first on Cryptoast.
Coverage Details
Bias Distribution
- 100% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
