UK Treasury selects HSBC blockchain platform to pilot digital government bond issuance
According to Odaily, the UK Treasury has selected HSBC Holdings Plc's blockchain platform Orion for a pilot issuance of the country's digital government bond instrument, DIGIT. HSBC stated that issuing bonds on the blockchain can improve the structure of the UK debt capital market by accelerating settlement speeds. The UK Treasury plans to issue these digital instruments within a regulated testing environment managed by the Financial Conduct Authority. Previously, HSBC's Orion platform has been used globally to issue over $3.5 billion in digital native bonds, including the European Investment Bank's first digital pound bond and the Hong Kong government's issuance of $1.3 billion equivalent in green bonds. (Bloomberg)
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