TechFlow news, July 16, according to CoinDesk, the UK plans to issue its first digital sovereign bond DIGIT in early 2027, becoming the first G7 country to issue government debt on a distributed ledger. Chancellor of the Exchequer Rachel Reeves announced the timeline in a Mansion House speech; the bond will be denominated in sterling and issued on HSBC's Orion platform.
The bond will be included in the Bank of England and the Financial Conduct Authority's Digital Securities Sandbox to test whether blockchain infrastructure can reduce settlement time and operating costs. Bank of England Governor Bailey stated that DIGIT can serve as collateral in market operations, supporting tokenized repo transactions. Details such as bond size and maturity have not yet been disclosed.
![In-depth Analysis of Trade[XYZ]: How Were 92 Markets and 98% HIP-3 Trading Volume Established?](https://upload.techflowpost.com/upload/images/20260716/20260716061117965147.jpeg?x-oss-process=image/resize,p_50/quality,q_80)
