DIGIT Digital Gilt Pilot Issuance
HM Treasury · Releases & Updates · By Q1 2027
The UK plans its first digitally native government bond, the DLT-based DIGIT gilt pilot, by Q1 2027 with six bank joint lead managers.
HM Treasury expects to issue the Digital Gilt Instrument (DIGIT), the UK's first digitally native government bond, by Q1 2027 as a pilot within the Digital Securities Sandbox. The pilot will use distributed ledger technology (DLT) across issuance and the bond lifecycle, on HSBC's Orion platform. On October 6, 2026 the Treasury appointed Barclays, HSBC, Lloyds, Morgan Stanley, NatWest and RBC Capital Markets as joint lead managers. DIGIT would be the first tokenized sovereign bond from a G7 government, a milestone for real-world asset (RWA) tokenization. Key topics: UK digital gilt, DIGIT, tokenized government bond, HM Treasury, DLT, RWA tokenization, Digital Securities Sandbox.