Regulation · Permission · United Kingdom · Sandbox admission or approval notice · Bank of England
Digital Securities Sandbox Gate 2 approval notice: ClearToken CSD Limited (Digital Securities Depository)
Gate 2 sandbox approval notice letting ClearToken CSD Limited act as a live Digital Securities Depository in the DSS, recording, maintaining and settling tokenised depository interests in UK government debt, corporate bonds and FTSE 350 shares within set limits. It replaced the firm's December 2024 Gate 1 notice and was the second Gate 2 approval, after HSBC.
In force · effective 18 Sep 2026 · part of Digital Securities Sandbox (UK)
Key points
- Approves notary, central maintenance and settlement services in a live environment for certificates represented by tokenised depository interests in UK government debt, GBP and non-GBP corporate bonds and FTSE 350 shares.[1]
- Limits: £600m for UK government debt, £900m for GBP corporate bonds, £1.8bn for non-GBP corporate bonds; the FTSE 350 share limit was still to be confirmed.[1]
- ClearToken says it is the first non-bank to pass Gate 2 and plans 24/7 settlement and intraday repo, keeping the same ISINs as the traditional securities.[2]
Timeline
- 12 Dec 2024 · FinalGate 1 approval.[3]
- 18 Sep 2026 · In forceGate 2 approval notice issued, replacing the Gate 1 notice.[1]
Held by
Deployments operating under it
| Deployment | Status | Assets | Use cases | Last reviewed |
|---|---|---|---|---|
| ClearToken CSD Digital Securities Depository (CT Register)Updated 26 Oct 2026 ClearToken | Announced | Reviewed 13d ago |
Sources
- [1]Sandbox Approval Notice for Gate 2 of the Digital Securities Sandbox: ClearToken CSD Limited — Bank of England, 18 Sep 2026. Accessed 13 Oct 2026.A
- [2]ClearToken Approved to Operate a Digital Securities Depository in the Bank of England's Digital Securities Sandbox — ClearToken, 22 Sep 2026. Accessed 13 Oct 2026.B
- [3]Digital Securities Sandbox Dashboard — Bank of England, 9 Oct 2026. Accessed 13 Oct 2026.A