News · RWA & Tokenization
Barclays, HSBC, Lloyds, Morgan Stanley, NatWest, and RBC Capital Markets will run the DIGIT bond pilot scheduled for Q1 2027.
Key point 1 of 3
01
HM Treasury selected Barclays, HSBC, Lloyds, Morgan Stanley, NatWest, and RBC Capital Markets as Joint Lead Managers for the DIGIT pilot .
Key point 2 of 3
02
The DIGIT bond will be short-dated, feature on-chain settlement within the UK Digital Securities Sandbox, and execute by Q1 2027 .
Key point 3 of 3
03
The pilot functions independently of the UK government's main sovereign debt management programme .
Context
HM Treasury previously selected HSBC as its primary DLT provider in February, while HSBC and LSEG agreed to establish a bilateral Digital Securities Depository connection in July…
Why it matters
The appointment formalizes institutional distribution mechanisms for digital UK sovereign bonds, engaging primary dealer banks directly with sandbox infrastructure and DLT…
What to watch
Issuance of the DIGIT pilot bond scheduled for Q1 2027 within the UK Digital Securities Sandbox.
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