The issuance of a digital gilt was a key recommendation from our 2023 report, Unlocking the Power of Securities Tokenisation. We commend the short tenure of the digital gilt, reflecting the recommendations of the UK Finance’s Digital Gilt Roadmap and of the thoughtful queries raised for industry in the preliminary market engagement notice.

Our work is propelled by industry consensus that tokenisation will have a transformational impact on financial markets, bringing benefits to institutions, infrastructure providers and consumers. We call for continued ambition through the development of a series of digital gilts which could show increasing scale and build true secondary markets for tokenised securities. Community building is key, and UK Finance calls for the formation of a cross-industry taskforce to support market transition.

Link to Engagement Notice:

Announcement of Preliminary Market Engagement Exercise for the Digital Gilt Instrument (DIGIT) Pilot - GOV.UK