Home›Bonds & Rates›Government Bonds›UK appoints six banks to lead digitally native soverei…

UK appoints six banks to lead digitally native sovereign bond pilot

The pilot, called DIGIT, is expected to issue the first bond by the first quarter of 2027 and will use distributed ledger technology for onchain settlement.

Reported · Written up by our desk · Government Bonds

The UK government has selected six banks to lead the issuance of its first digitally native government bond, a pilot program known as the Digital Gilt Instrument (DIGIT), with issuance expected by the first quarter of 2027, Cointelegraph reported.

Barclays, HSBC, Lloyds, Morgan Stanley, NatWest, and RBC Capital Markets were named joint lead managers after a competitive procurement process, and they will support underwriting, investor engagement, and distribution for the pilot.

Economic Secretary to the Treasury Lucy Rigby announced the appointments during a keynote at UK Digital Assets Week, according to Cointelegraph.

The DIGIT pilot will test distributed ledger technology and onchain settlement for UK sovereign debt.

More like this

Sources