HSBC Orion will become the first platform to operate in the UK’s Digital Securities Sandbox, targeting a Q1 2027 digital gilt issuance.
HSBC received Bank of England approval to launch its HSBC Orion platform within the UK’s Digital Securities Sandbox (DSS). The move allows the bank to issue, service, and settle digital securities, including the planned Digital Gilt Instrument (DIGIT).
The DSS, launched in 2024, is a regulatory environment testing distributed ledger technology for securities markets. HSBC Orion has already facilitated over $5 billion in digital bond issuances globally. HM Treasury expects the first DIGIT transaction by Q1 2027.
HSBC also partnered with the London Stock Exchange Group to enhance investor access to the pilot issuance. The sandbox is jointly operated by the Bank of England and the Financial Conduct Authority.