CryptoMediaClub
Friday, October 3, 2025
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
CryptoMediaClub
No Result
View All Result
Home All news

UK to Launch Digital Gilts Trial Within Two Years

12.11.2024
A A
0
119
VIEWS
ShareShare

The United Kingdom (UK) plans to begin issuing digital gilts in the next two years as the government adopts blockchain technology to modernize its financial markets.

The government seeks to modernize financial markets by “tokenizing” government debt, enhancing trading efficiency, and reducing costs in the UK’s extensive debt market, which is preparing for a borrowing round estimated at £297 billion ($382 billion).

UK to Trial Digital Gilts Within Two Years, Marking Major Shift in Debt Issuance

According to a Bloomberg report, Chancellor Rachel Reeves is expected to announce a trial of digital gilt issuance during her Mansion House speech on Thursday, an occasion traditionally used to reveal financial industry support policies.

The announcement aligns with the new Labour government’s goal of modernizing financial markets by “tokenizing” government debt on a blockchain, a system similar to that used by cryptocurrencies like Bitcoin.

The government hopes to improve trading speed and reduce costs by digitizing gilts. This will benefit the country’s vast debt market as it prepares for a borrowing spree estimated at £297 billion ($382 billion), the second largest in UK history.

The previous Conservative government initially floated the plan to issue digital bonds. In 2022, former Treasury Minister John Glen indicated the department was considering the feasibility of digital debt issuance.

Now, the Treasury has begun formal preparations for digital gilt sales, with the Debt Management Office advising on the feasibility of using distributed ledger technology, as reported in its latest annual report.

With digital bonds still in the niche, UK officials are cautiously mapping out a phased approach, with initial trials planned before large-scale issuance. Globally, digital bond issuance is also gaining traction.

🔗 Slovenia has become the first member of the European Union to issue a sovereign digital bond.#Slovenia #Cryptohttps://t.co/lrjgrNffPR

— Cryptonews.com (@cryptonews) July 29, 2024

Earlier this year, Slovenia became the first eurozone country to issue sovereign digital debt, joining global institutions like the European Investment Bank and the World Bank that have tested blockchain-based issuance.

The UK’s move aligns with guidance from the Association for Financial Markets in Europe, which this year recommended that governments take incremental steps toward digital debt-raising. This proposed phased approach would allow governments to assess blockchain’s impact on their markets before committing to full-scale implementation.

The association previously advocated for a phased adoption of blockchain in debt issuance, beginning with experimental trials and potentially scaling up to larger sales within the next few years.

UK City Minister Advocates Blockchain-Based Gilts Amid DMO Caution on Feasibility

UK city minister Tulip Siddiq supports blockchain-based digital gilts to modernize markets and boost the UK's position in digital assets. However, the Debt Management Office (DMO) is cautious due to legal and technical risks. #digitalasset https://t.co/UISc1e9P1y

— IDEG Asset Management (@IDEG_AM) October 4, 2024

On October 2, Tulip Siddiq, the United Kingdom’s city minister, advocated for issuing blockchain-based gilts, a government bond distributed via blockchain technology.

Siddiq’s proposal seeks to advance the UK’s position in digital finance by introducing “digital gilts,” even as the UK’s Debt Management Office (DMO) has voiced concerns over the move’s feasibility.

Proponents of blockchain gilts argue that adopting this technology could streamline bond issuance, improve market transparency, and position the UK as a leader in digital assets.

The shift would remove intermediaries, such as registrars, in the bond-issuance process, thereby enhancing efficiency and reducing costs.

Additionally, supporters claim that tracking ownership through blockchain could modernize UK financial markets and bolster global credibility.

However, the DMO, responsible for issuing and managing government debt, has expressed caution, citing technical and regulatory challenges in shifting to blockchain.

The Financial Times reported that the DMO’s primary focus remains on maintaining cost efficiency and ensuring smooth operation in the gilt market.

The post UK to Launch Digital Gilts Trial Within Two Years appeared first on Cryptonews.

Share9Tweet6ShareSharePin2

Related Posts

Bitcoin Breaks $120K As ‘Uptober’ Momentum Rises, Shutdown Fails To Stall Gains
All news

Bitcoin Breaks $120K As ‘Uptober’ Momentum Rises, Shutdown Fails To Stall Gains

03.10.2025
0

Bitcoin pushed above $120,000 late Thursday, extending a strong run that began in September and kept rolling into October, a...

Read moreDetails
Crypto Price Prediction Today October 2 – XRP, Pepe, Dogecoin

Crypto Price Prediction Today October 2 – XRP, Pepe, Dogecoin

03.10.2025
XRP Price Prediction: SWIFT Partners With Ethereum Firm – Is Ripple Losing the Payments Race It Started?

XRP Price Prediction: SWIFT Partners With Ethereum Firm – Is Ripple Losing the Payments Race It Started?

03.10.2025
Spot Bitcoin ETF Volume Tops $5 Billion as Price Breaks $120K – ATH Next?

Spot Bitcoin ETF Volume Tops $5 Billion as Price Breaks $120K – ATH Next?

03.10.2025
PUMP Price Prediction: Key Indicator Just Flashed Green – PUMP is About to Explode Higher

PUMP Price Prediction: Key Indicator Just Flashed Green – PUMP is About to Explode Higher

02.10.2025
Load More
Next Post
Crypto Market Capitalization Surpasses $3.14 Trillion for First Time

Crypto Market Capitalization Surpasses $3.14 Trillion for First Time

0 0 votes
Рейтинг статьи
Subscribe
Notify of
guest
guest
0 комментариев
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

Recommended

PayPal’s Stablecoin PYUSD Nears $1 Billion Market Cap Mark In Less Than A Year

PayPal’s Stablecoin PYUSD Nears $1 Billion Market Cap Mark In Less Than A Year

1 year ago
Best Crypto to Buy Now September 6 – Sui, Helium, Dogs

Best Crypto to Buy Now September 6 – Sui, Helium, Dogs

1 year ago
Revolut Business reportedly cuts crypto services ahead of new UK rules

Revolut Business reportedly cuts crypto services ahead of new UK rules

2 years ago
Daehong Communications Partners with Chainlink Labs for NFT Projects

Daehong Communications Partners with Chainlink Labs for NFT Projects

2 years ago

Categories

  • All news
  • Altcoins
  • Analysis
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
No Result
View All Result

Highlights

XRP Price Prediction: SWIFT Partners With Ethereum Firm – Is Ripple Losing the Payments Race It Started?

Why is Bitcoin near all-time highs? Everything that happened in crypto today

Spot Bitcoin ETF Volume Tops $5 Billion as Price Breaks $120K – ATH Next?

PUMP Price Prediction: Key Indicator Just Flashed Green – PUMP is About to Explode Higher

CME Group to Launch 24/7 Crypto Futures and Options Trading in Early 2026

From Bitcoin to DeFi 2.0, the Trends Driving Crypto’s Future: WisdomTree Analyst

Trending

Bitcoin Breaks $120K As ‘Uptober’ Momentum Rises, Shutdown Fails To Stall Gains
All news

Bitcoin Breaks $120K As ‘Uptober’ Momentum Rises, Shutdown Fails To Stall Gains

03.10.2025
0

Bitcoin pushed above $120,000 late Thursday, extending a strong run that began in September and kept rolling...

Crypto Price Prediction Today October 2 – XRP, Pepe, Dogecoin

Crypto Price Prediction Today October 2 – XRP, Pepe, Dogecoin

03.10.2025
Will a Europe-US BTC reserve race actually happen?

Will a Europe-US BTC reserve race actually happen?

03.10.2025
XRP Price Prediction: SWIFT Partners With Ethereum Firm – Is Ripple Losing the Payments Race It Started?

XRP Price Prediction: SWIFT Partners With Ethereum Firm – Is Ripple Losing the Payments Race It Started?

03.10.2025
Why is Bitcoin near all-time highs? Everything that happened in crypto today

Why is Bitcoin near all-time highs? Everything that happened in crypto today

03.10.2025
  • All news
  • Altcoins
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
  • Analysis
Editor: cryptomediaclub.com@gmail.com
Advertising: digestmediaholding@gmail.com

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

wpDiscuz