The British Chancellor of the Exchequer announced the launch of a pilot project for digital gilt bonds

PANews reported on November 15th that Rachel Reeves, the UK Chancellor of the Exchequer, announced a pilot of Digital Gilt (DIGIT), utilizing Distributed Ledger technology for the issuance and tokenization of bonds. The project is divided into three phases: the first six months will focus on short-term Treasury bills issuance; expanding to medium-term bonds within a year; and fully transitioning to on-chain transactions after 18 months. DIGIT aims to enhance market efficiency and leverage existing infrastructure such as Fnality to drive implementation.