The UK plans to issue the first digital sovereign bond among G7 nations in early 2027, as announced by Finance Minister Rachel Reeves during the Mansion House speech. The bond, named DIGIT, will be a sterling-denominated government bond issued on HSBC's Orion platform and will operate within the Bank of England and FCA's digital securities sandbox. Bank of England Governor Andrew Bailey stated that the central bank will allow DIGIT to qualify as collateral in its market operations to support tokenized repos. Details such as the bond's size, maturity, coupon, investor eligibility, and settlement assets remain undisclosed. The initial issuance will be separate from the regular gilt financing program.