HSBC approved to join the UK digital securities sandbox

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PANews July 17 news, HSBC Bank recently announced that it has become the first institution approved by the Bank of England to officially launch in the UK Digital Securities Sandbox (DSS). Its digital asset platform, HSBC Orion, will serve in the sandbox as a digital securities depository (DSD), supporting the issuance, custody and settlement of native digital bonds, including DIGIT digital gilts pushed by the UK Treasury and the Bank of England, as well as corporate bonds. DSS is jointly operated by the Bank of England and the UK Financial Conduct Authority (FCA), providing a regulatory environment to test and deploy distributed ledger technology for the issuance, trading and settlement of securities in the UK. The UK Chancellor of the Exchequer recently announced that the first DIGIT is expected to be issued in early next year. To date, HSBC Orion has supported the issuance of more than $5 billion in digital bonds.

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