The UK government has appointed HSBC Orion to run a pilot issuance of digital government bonds, known as gilts. The DIGIT project will test how blockchain technology can make the sovereign debt market faster, cheaper and more secure. The announcement was made by the UK Treasury. The pilot will be conducted within the Digital Securities Sandbox, a regulatory framework designed to test digital financial instruments. DIGIT will consist of short-dated government bonds issued in digital form with onchain settlement. The instruments will operate separately from the UK’s main debt management program. According to Economic ... (full story)