UK launches "digital gilt" procurement process

Britain's finance ministry said on Tuesday that it had started the procurement process to create a digital government bond.The government says a "Digital Gilt Instrument" (DIGIT) would use distributed ledger technology used in assets such as cryptocurrencies with the aim of making gilt market transactions faster and more efficient."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," finance minister Rachel Reeves said in a statement.