UK Plans First Digital Sovereign Bond by Early 2027, Becoming First G7 Nation to Issue Debt on Distributed Ledger

The U.K. plans to issue its first digital sovereign bond by early 2027, becoming the first G7 nation to put government debt on a distributed ledger. According to NS3.AI, the bond, named DIGIT, will list on HSBC’s Orion platform within the Bank of England and Financial Conduct Authority’s Digital Securities Sandbox. The Treasury has not disclosed the bond’s size, maturity, coupon, investor eligibility, or settlement asset.