HSBC’s Orion sees cash leg challenge to tokenised bonds
Tradeweb and others agree more work needed before atomic settlement is achieved
The need to move cash in tandem with tokenised assets represents the “biggest challenge” to scaling the UK’s Digital Gilt Instrument (Digit) pilot issuance and similar initiatives, according to an executive at HSBC, the supplier of the platform tasked with delivering the project.
HSBC’s digital assets platform Orion was selected as the provider for the Digit pilot issuance by HM Treasury in
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