HSBC Orion received approval to go live in the UK’s Digital Securities Sandbox, while HSBC said it was the first applicant approved by the Bank of England.

The security will launch on HSBC’s Orion platform within the BoE and FCA’s Digital Securities Sandbox to test reduced settlement times and costs.

HSBC is the first firm approved by the Bank of England to go live in the UK Digital Securities Sandbox, enabling tokenized bond issuance via its Orion