UK names 6 banks to lead first digitally native government bond
The UK government has appointed six major banks to lead the issuance of its first digitally native government bond, with the pilot expected by the first quarter of 2027.
Barclays, HSBC, Lloyds, Morgan Stanley, NatWest and RBC Capital Markets were named joint lead managers for the Digital Gilt Instrument (DIGIT) following a competitive procurement process. Economic Secretary to the Treasury Lucy Rigby announced the appointments Tuesday during a keynote at UK Digital Assets Week.
The banks will provide underwriting, investor engagement and distribution services for the pilot issuance.
DIGIT will be issued on a platform operating within the UK’s Digital Securities Sandbox and will test the use of distributed ledger technology (DLT) across the bond’s issuance and lifecycle, including onchain settlement. The government said the pilot is intended to explore the use of DLT in sovereign debt markets while encouraging the development of digital financial infrastructure in the UK.
The project follows HSBC’s appointment in February as the pilot’s DLT supplier and a July agreement between HSBC and the London Stock Exchange Group to develop a digital securities depository link.
In an X post on Tuesday, Rigby said the appointments mark an important step toward issuing the digital gilt early next year, calling DIGIT “a practical test of new financial market infrastructure.”
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Samsung Electronics delivers its strongest quarterly report ever; can HBM4e restart AI memory trading?
Samsung Electronics is about to face a critical test. The company will release its preliminary results on Thursday, and it is expected to record its largest-ever quarterly operating profit. However, the real test is not the scale of profits, but whether it can convince investors that the demand for memory chips is sustainable and that high product prices can be secured through long-term contracts.
BUZZ - Australian uranium mining stocks surge after Google reaches power deal with Constellation Energy
October 7 - Shares of Australian uranium mining companies surged after Google (GOOGL.O) signed a power agreement with Constellation Energy (CEG.O), the largest nuclear power plant operator in the United States (link). Google (GOOGL) and Constellation Energy (CEG) have entered into a multi-year deal under which Google will purchase 3,590 megawatts of electricity from Constellation; according to both parties, the additional nuclear-generated electricity accounts for roughly a quarter of total supplied power. Uranium is primarily used as fuel for nuclear power plants to generate low-carbon electricity. Boss Energy (BOE.AX) shares rose 9%, reaching their highest level since September 29, while Paladin Energy (PDN.AX) shares climbed over 6%. Deep Yellow (DYL.AX) shares rose nearly 10%, marking their largest intraday gain since September 3. Within the broadly flat ASX200 benchmark index (.AXJO), DYL and PDN ranked among the top gainers. (For the convenience of non-English speakers, Reuters has automatically translated its reports into several other languages. Since automated translations may contain errors or lack the necessary context, Reuters does not guarantee their accuracy and provides them solely for reader convenience. Reuters accepts no responsibility for any damage or loss arising from the use of the automated translation function.)
12.41 million dollars in fee revenue, Pump.fun transferred to an exchange 9 hours ago
JPMorgan: U.S. deep non-performing loans rise to pandemic-era highs, tech industry hardest hit
JPMorgan strategists wrote on Tuesday that the tail of the leveraged loan market's deep distress has risen to its highest level since the onset of the pandemic, with technology being the single most pressured sector.
Crypto prices
More
