Chancellor to press on with DIGIT to boost investment

18 Mar 2025 01:46 PM

This morning (18 March), the Chancellor hosted top Fintech CEOs in No. 11 and confirmed the next steps to test distributed ledger technology (DLT) in the UK gilt market.

• The Chancellor confirmed the start of the procurement process for Digital Gilt Instrument (DIGIT), which will test the demand for and use of DLT – which has the potential to modernise financial markets by increasing efficiency, reducing costs, and enhancing security.
• The financial services sector is being invited to help shape DIGIT to support continued innovation and growth of this important sector.
• This will help cement the UK as a global financial centre by boosting investment and supporting innovation in this cutting-edge technology.

Chancellor Rachel Reeves said:

The UK is leading the way on digital innovation, and the creation of DIGIT will help to transform our world-leading capital markets sector and drive economic growth.