HSBC first company to pass BoE鈥檚 Gate 2
15 July 2026 UK
Image: Palash/stock.adobe.com
HSBC has become the first applicant to get approval from the Bank of England (BoE) to pass Gate 2 and go live in the UK鈥檚 Digital 网爆吃瓜 Sandbox (DSS).
HSBC Orion, HSBC鈥檚 digital assets platform, will be able to operate within the DSS as a Digital 网爆吃瓜 Depository (DSD) for digitally native bond issuance, servicing and settlement, including the DIGIT or digital gilt instrument, and corporate bonds.
Operated by the BoE and the Financial Conduct Authority (FCA), the DSS provides a live, flexible regulatory environment to test and implement new technologies, including distributed ledger technology, for the issuance, trading, and settlement of securities in the UK.
Patrick George, global head of markets & securities services at HSBC, states: 鈥淲e welcome the Bank of England鈥檚 approval for HSBC Orion to be the first digital assets platform to go live in the Digital 网爆吃瓜 Sandbox.
鈥淗aving been appointed earlier this year as the issuance platform provider for the DIGIT, we look forward to the inaugural DIGIT pilot issuance, which will be a key event for digital assets in the UK.鈥�
Yesterday, Rachel Reeves, chancellor of the exchequer announced, in her Mansion House speech, the timeframe for the first DIGIT issuance, expected early next year.
HSBC Orion has, to-date, enabled over US$5 billion of digital bond issuances globally, supporting the movement of digital assets from an experimental stage to a mainstream market development.
HSBC Orion, HSBC鈥檚 digital assets platform, will be able to operate within the DSS as a Digital 网爆吃瓜 Depository (DSD) for digitally native bond issuance, servicing and settlement, including the DIGIT or digital gilt instrument, and corporate bonds.
Operated by the BoE and the Financial Conduct Authority (FCA), the DSS provides a live, flexible regulatory environment to test and implement new technologies, including distributed ledger technology, for the issuance, trading, and settlement of securities in the UK.
Patrick George, global head of markets & securities services at HSBC, states: 鈥淲e welcome the Bank of England鈥檚 approval for HSBC Orion to be the first digital assets platform to go live in the Digital 网爆吃瓜 Sandbox.
鈥淗aving been appointed earlier this year as the issuance platform provider for the DIGIT, we look forward to the inaugural DIGIT pilot issuance, which will be a key event for digital assets in the UK.鈥�
Yesterday, Rachel Reeves, chancellor of the exchequer announced, in her Mansion House speech, the timeframe for the first DIGIT issuance, expected early next year.
HSBC Orion has, to-date, enabled over US$5 billion of digital bond issuances globally, supporting the movement of digital assets from an experimental stage to a mainstream market development.
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