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Oct 6, 2026

UK Treasury selects six banks for digital gilt pilot launching early 2027

The UK Treasury has appointed Barclays, HSBC, Lloyds, Morgan Stanley, NatWest, and RBC Capital as joint lead managers for the pilot issuance of Digital Gilt Instrument (DIGIT), a blockchain-based government bond expected in the first quarter of 2027. The initiative aims to modernize the UK's capital markets through tokenization.

Oct 6, 2026·6 sources
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Top claims

  • ▪HSBC and ClearToken secured approvals in 2026 to operate as the first two live digital securities depositories within the Digital Securities Sandbox.
  • ▪The DIGIT pilot is scheduled for issuance in the first quarter of 2027 as a short-dated, digitally native sovereign bond.
  • ▪UK Finance disclosed that participating banks plan to issue three additional digital bonds in the first quarter of 2027 to be settled using tokenized deposits.

Topics

Blockchain technologyTokenizationInstitutional crypto adoption

Related entities

United Kingdom