The UK government has appointed six banks to lead a pilot for its first digital-native government bond, known as DIGIT. The pilot is designed to test distributed ledger technology, or DLT, in the issuance process and to examine on-chain settlement for UK sovereign debt. Under the current timeline, the bond is expected to be issued in the first quarter of 2027. The update was reported by Techub, citing Cointelegraph. No further details on the participating banks or the size of the planned issuance were disclosed in the source material provided. The announcement centers on the structure and timing of the pilot rather than commercial terms.
The UK government has chosen six banks to lead a pilot for DIGIT, its first digital-native government bond.
The project will test distributed ledger technology, or DLT. And it will use on-chain settlement for UK sovereign debt. The bond is scheduled to be issued in the first quarter of 2027.
Techub reported the news, citing Cointelegraph.
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