UK Treasury Selects HSBC Blockchain Platform for Digital Bond Pilot

Odaily News The UK Treasury has selected HSBC Holdings Plc's blockchain platform Orion to pilot the issuance of the country's digital bond instrument, DIGIT. HSBC stated that issuing bonds on a blockchain can improve the structure of the UK's debt capital markets by accelerating settlement speeds. The UK Treasury plans to issue these digital instruments within a regulated testing environment managed by the Financial Conduct Authority. Previously, HSBC's Orion platform has been used globally to issue over $3.5 billion in digital native bonds, including the European Investment Bank's first digital pound bond and a $1.3 billion equivalent green bond issued by the Hong Kong government. (Bloomberg)