UK names 6 banks to lead first digitally native government bond
60-second summary
The UK government appoints six banks to spearhead the DIGIT pilot, a first digitally native sovereign bond that will use distributed‑ledger technology and on‑chain settlement, with issuance targeted for the first quarter of 2027; this experiment aims to streamline issuance, cut settlement times and costs, potentially reshaping sovereign‑debt markets and attracting fintech investment.
The DIGIT pilot will test distributed ledger technology and onchain settlement for UK sovereign debt, with issuance expected by the first quarter of 2027.