UK government appoints HSBC for tokenized bond pilot

The UK appointed HSBC Orion for its DIGIT pilot to explore blockchain bonds, aiming to improve efficiency, cut costs and boost security.

The United Kingdom’s government has appointed HSBC’s tokenization platform to power a pilot issuance of digital government bonds, known as “gilts,” marking the latest step in its push to modernize sovereign debt markets using blockchain technology.

HM Treasury has appointed HSBC Orion to facilitate the Digital Gilt Instrument (DIGIT) pilot issuance, according to a Thursday announcement.

The Treasury published a DIGIT pilot update in July 2025, outlining plans to explore blockchain applications in UK sovereign debt issuance and to support the development of domestic tokenization infrastructure.

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