Today the Chancellor of the Exchequer Rachel Reeves announced the kick off for the government’s program for its Digital Gilt Instrument (DIGIT), starting with procurement. Last year the Labour government confirmed plans to issue digitally native government bonds using blockchain as part of the Digital Securities Sandbox, a temporary testing environment that relaxes a few laws.
“The UK is leading the way on digital innovation, and the creation of DIGIT will help to transform our world-leading capital markets sector and drive economic growth,” said Chancellor Reeves.
It published a set of questions targeted at potential suppliers and market participants, especially investors, to find out what they are looking for. Responses should be submitted by 13 April with a tender process in the late spring, and selection expected in the late summer.
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