HSBC’s asset tokenisation platform Orion has been selected by HM Treasury as the issuance provider for its Digital Gilt Instrument (DIGIT) pilot.

Part of the UK’s Wholesale Financial Markets Digital Strategy, DIGIT will operate within the Digital Securities Sandbox (DSS) and provide on-chain settlement outside of the Government’s main debt management programme.

The broader strategy aims to allow the government to explore how distributed ledger technology (DLT) can be used in UK sovereign debt issuance processes and encourage the development and adoption of DLT infrastructure in UK financial markets.

HSBC Orion has previously facilitated the issuance of more than US$3.5 billion in digitally native bonds globally.

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