Svmuu News: The United Kingdom plans to issue its first digital sovereign bond by early 2027, becoming the first G7 country to issue government debt on a distributed ledger.
The bond will be listed on HSBC’s Orion platform and included in the digital securities sandbox of the Bank of England (BoE) and the UK Financial Conduct Authority (FCA) to test ways to shorten settlement times and reduce costs.
Bank of England Governor Andrew Bailey stated that the BoE plans to make the bond eligible as collateral for open market operations, allowing banks to use it in central bank financing transactions.
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The UK plans to issue its first G7 digital sovereign bond by early 2027
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