The UK Treasury has announced that HSBC Holdings' Orion blockchain platform will pilot the issurance of DIGIT, the country's digital bond instrument. According to Odaily, the UK Treasury plans to issue these digital instruments within a regulated testing environment managed by the Financial Conduct Authority, which was previously announced in a tender offer in October. HSBC stated that issuing bonds on a blockchain can improve the structure of the UK's debt capital markets by accelerating settlement speeds. The  HSBC’s Orion platform has been used for the issuance of over US$3.5 billion in digitally native bonds globally, including the European Investment Bank’s first digital sterling bond in 2023 and the multicurrency US$1.3 billion equivalent green bond issued by the Hong Kong government last year.