HSBC has received approval from the Bank of England to operate in the UK’s Digital Securities Sandbox, allowing its digital asset platform HSBC Orion to support the issuance, servicing, and settlement of digital securities. The bank said Orion will operate in the sandbox as a digital securities depository and described itself as the first company approved by the Bank of England to go live in the framework. HSBC said the platform will support native digital bond issuance, including the UK’s planned Digital Gilt Instrument, or DIGIT, as well as corporate bonds. The bank also said HSBC Orion has facilitated more than $5 billion in digital bond issuance globally. Separately, HM Treasury said the first DIGIT transaction is expected in the first quarter of 2027. HSBC and London Stock Exchange Group have also signed a memorandum of understanding to build connectivity intended to support investor participation in the pilot issuance.
HSBC has received approval from the Bank of England to operate in the UK’s Digital Securities Sandbox, or DSS. Its digital asset platform, HSBC Orion, will support the issuance, servicing, and settlement of digital securities.
HSBC said Orion will operate in the DSS as a digital securities depository. The bank also said it is the first company approved by the Bank of England to go live in the sandbox.
The platform will support native digital bond issuance, including the UK’s planned Digital Gilt Instrument, or DIGIT, as well as corporate bonds.
HSBC said HSBC Orion has facilitated more than $5 billion in digital bond issuance globally.
HM Treasury said the first DIGIT transaction is expected in the first quarter of 2027. HSBC and London Stock Exchange Group have signed a memorandum of understanding to develop connectivity that will support investor participation in the pilot issuance.
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