Bringing government bonds on chain

While the financial world is eager to embrace the promise of public blockchain technology, some in the regulatory community believe that it represents unique risks. They are responding by putting in place rules that limit the adoption of public blockchain, particularly at commercial banks.

Government bonds are a core part of the financial system, providing investors with safe, liquid assets. As market participants turn increasingly towards blockchain-based infrastructure, it is imperative that government bonds are available in this new format quickly and without compromising liquidity.

Debt management offices are aware of this development and are watching closely, with some even conducting experiments to bring their bonds on chain. But not all methods of bringing bonds on chain are equivalent.

To explore DMOs’ thinking on this, OMFIF’s Digital Monetary Institute partnered with DeFi Technologies to form the Blockchain Bonds Working Group. The working group hosted two private workshops in 2026, and invited public sector bond issuers with differing levels of experience in working with blockchain bonds.

This report distils the conclusions of those workshops, detailing the different approaches to tokenisation and the opportunities and pitfalls involved in selecting each

Enter your details on the right to read the report.