According to ChainCatcher, the Bank of England (BoE) and the Financial Conduct Authority (FCA) have launched the Digital Securities Sandbox (DSS), allowing companies to explore how to use digital ledger technology (DLT) for notarization, maintenance and settlement of financial securities.

The FCA recognizes that developing technologies have the potential to bring efficiency, transparency and resilience to the market. The regulator said that if these technologies are successfully implemented, they may make processes cheaper and faster, thereby "saving costs across markets and users." It emphasized that the DSS will facilitate the trading, settlement and issuance of digital securities in the UK. This will be done on a programmable and distributed ledger while complying with the regulations of the Bank of England and the FCA.

The FCA added that the move would strengthen the UK’s position as a global financial centre, which would create the right conditions for investment and sustainable growth.