HSBC To Power Pilot Issuance Of UK Digital Bonds – Details
The UK government has selected HSBC's blockchain platform, Orion, to pilot the issuance of digital government bonds, known as the Digital Gilt Instrument (DIGIT). This initiative, supported by legal firm Ashurst LLP, aims to test the efficiency of blockchain technology in sovereign debt markets within a regulatory sandbox. The pilot will explore on-chain settlement for short-dated gilts, focusing on improving transaction speed, reducing costs, and enhancing security. UK Economic Secretary Lucy Rigby emphasized this as a key step toward the country's first digital gilt issuance. The program will assess practical metrics like settlement speed and secondary market accessibility, with results guiding potential wider adoption. This move is part of the UK's strategy to maintain competitiveness in global capital markets.
bitcoinist02/13 15:32