HSBC approved by Bank of England to enter Digital Securities Sandbox, HSBC Orion facilitates over USD 5 billion in digital bond issuances

Odaily Planet Daily News HSBC has received approval from the Bank of England to operate in the UK's Digital Securities Sandbox (DSS). Its digital asset platform, HSBC Orion, will support the issuance, servicing, and settlement of digital securities.

HSBC stated that HSBC Orion will operate as a digital securities depository within the DSS and claimed to be the first company approved by the Bank of England to go live in this sandbox. The platform will support native digital bond issuance, including the UK's planned digital sovereign bond, the Digital Gilt Instrument (DIGIT), as well as corporate bonds.

HSBC noted that HSBC Orion has facilitated over USD 5 billion in digital bond issuances globally. The UK Treasury stated that the first DIGIT transaction is expected to take place in the first quarter of 2027. HSBC and the London Stock Exchange Group have signed a memorandum of understanding to develop connectivity capabilities that support investor participation in the pilot issuance.