UK names 6 banks to lead first digitally native government bond
The DIGIT pilot will test distributed ledger technology and onchain settlement for UK sovereign debt, with issuance expected by the first quarter of 2027.
The UK government has appointed six major banks to lead the issuance of its first digitally native government bond, with the pilot expected by the first quarter of 2027.
Barclays, HSBC, Lloyds, Morgan Stanley, NatWest and RBC Capital Markets were named joint lead managers for the Digital Gilt Instrument (DIGIT) following a competitive procurement process. Economic Secretary to the Treasury Lucy Rigby announced the appointments Tuesday during a keynote at UK Digital Assets Week.
The banks will provide underwriting, investor engagement and distribution services for the pilot issuance.