According to Cointelegraph, the United Kingdom has named six banks to serve as lead participants in the DIGIT pilot, which aims to test distributed ledger technology and on‑chain settlement for sovereign debt. The initiative is intended to evaluate how a blockchain‑based approach can be applied to UK government bond issuance.
The pilot’s focus includes using a distributed ledger to record bond issuance details and facilitating on‑chain settlement processes. Officials indicated that the goal is to assess feasibility, operational considerations, and regulatory alignment for issuing sovereign debt in this format.
Issuance under the pilot is expected to occur no later than the first quarter of 2027.
