The Treasury is pushing ahead with plans to explore the use of distributed ledger technology (DLT) in financial markets, including creating digital versions of UK government bonds.
In her Mansion House speech in November last year, Chancellor of the Exchequer Rachel Reeves said the government intended to trial a pilot digital gilt instrument (DIGIT) issuance using DLT. In an update on Tuesday (18 March), Reeves added that the government was engaging with the UK Debt Management Office (DMO) "to understand what technological options are available to facilitate an issuance" and how DIGIT can "best be designed to stimulate wider development and adoption of DLT infrastructure across UK capital markets". FCA launches AI Lab to bolster innovation and development in fin...
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