UK to issue first 'digital' bond by early 2027, finance minister says

Britain aims to become the first major advanced economy to issue a digital sovereign bond by doing so by early next year, ‌finance minister ⁠Rachel ⁠Reeves said in a speech on Tuesday.

Britain's "Digital Gilt Instrument" pilot was announced in 2024 and tests how distributed-ledger technology could make capital markets more efficient and ⁠reduce costs ‌for financial institutions

Reeves made the announcement in ⁠her annual Mansion House speech in the City of London financial district and said further issuance was planned after the initial sale


Bank of England Governor Andrew Bailey said at ‌the same event that the BoE will work to ensure the digital gilt ⁠can be used as collateral in BoE market operations

Britain's finance ministry picked HSBC in February to run the blockchain platform which will be used by the tokenised bond