The UK Treasury has appointed Barclays, HSBC, Lloyds, Morgan Stanley, NatWest and RBC Capital Markets as joint lead managers for Britain’s first digital government bond, called DIGIT. HSBC will also serve as platform provider via its Orion distributed ledger system, on which the bond will be issued. The issuance is targeted for the end of Q1 2027 within the Digital Securities Sandbox, a regulatory testing environment. This initiative falls under the UK’s Wholesale Financial Markets Digital Strategy and aims to test blockchain technology across the full sovereign debt lifecycle, from issuance to settlement and secondary market development. The UK is positioning itself as a pioneer among G7 nations in tokenized sovereign debt issuance.
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