UK’s digital bonds to be issued using HSBC blockchain platform
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The UK Treasury has selected HSBC's blockchain platform for the pilot issuance of digital gilt instruments, aiming to modernize capital markets. This initiative, known as DIGIT, seeks to enhance the efficiency of the UK’s debt capital markets by speeding up settlement times. The government plans to issue these digital bonds within a regulated environment managed by the Financial Conduct Authority. HSBC's Orion platform has previously facilitated over US$3.5 billion in digital bond issuances globally. Despite growing interest, the tokenized debt market remains small due to limited secondary market liquidity.
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