The UK is planning to issue its first sovereign digital bond in early 2027, potentially becoming the first G7 country to issue government bonds on a distributed ledger.

BlockBeats News, July 15th, according to CoinDesk, the UK plans to launch its first digital sovereign bond, DIGIT, in early 2027, aiming to become the first G7 country to issue government debt on a distributed ledger infrastructure. The bond will be denominated in pounds, issued through the HSBC Bank Orion platform, and operate within the Bank of England and Financial Conduct Authority's digital securities sandbox.

Bank of England Governor Andrew Bailey stated that the central bank will work to ensure the bond is eligible for market operations collateral in the future. Currently, the UK Treasury has not disclosed details such as the bond's issuance size, maturity, coupon rate, investor eligibility criteria, and settlement assets.

Source: BlockBeats

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