UK Selects Six Banks to Lead First Digitally Native Government Bond Pilot

Source Summary

The UK has named six banks to lead the DIGIT pilot programme, which will test distributed ledger technology and onchain settlement for UK sovereign debt. The pilot is expected to result in the first issuance by the first quarter of 2027.

Why it matters

This pilot represents a significant step toward modernizing government debt issuance infrastructure through blockchain technology, with concrete implementation planned within two years.