Scope
Reference
HMT011
Description
HM Treasury (the Authority) intends to issue DIGIT using Distributed Ledger Technology on a platform within the Digital Securities Sandbox which was established by the Financial Services and Markets Act 2023 (Digital Securities Sandbox) Regulations 2023, and which came into force on 8 January 2024.
The proposal requires Supplier(s) to develop and provide the necessary services to allow HM Treasury, to issue, distribute and settle DIGIT as a digitally native note within the DSS and accommodate subsequent lifecycle events. The proposal also includes requirements that concern interoperability functionality and connectivity.
The Authority has not specified any particular contract value in this Tender Notice and will consider commercial proposals to ascertain the total value of the contract.
The Authority expects to award the contract during w/c 15 December 2025.
This contract is exempt from the Procurement Act 2023 in line with Schedule 2 to that Act, therefore the provisions of the Procurement Act 2023 do not apply to this procurement or contract.
Total value (estimated)
- £0 excluding VAT
- £0 including VAT
Above the relevant threshold
Contract dates (estimated)
- 15 December 2025 to 14 December 2028
- Possible extension to 14 December 2029
- 4 years
Description of possible extension:
The contract for the services will be for an initial 3 years' period with an option to extend for a further 1 year.
Main procurement category
Services
CPV classifications
- 48000000 - Software package and information systems
- 66150000 - Financial markets administration services
- 72000000 - IT services: consulting, software development, Internet and support
Contract locations
- UK - United Kingdom
Participation
Legal and financial capacity conditions of participation
Please see Invitation to Tender documents for more information
Technical ability conditions of participation
Please see Invitation to Tender documents for more information
Submission
Enquiry deadline
29 October 2025, 12:00am
Tender submission deadline
17 November 2025, 12:00pm
Submission address and any special instructions
Tender responses to be submitted via email to digit@hmtreasury.gov.uk
Tenders may be submitted electronically
No
Languages that may be used for submission
English
Award decision date (estimated)
15 December 2025
Award criteria
| Name | Type | Weighting |
|---|---|---|
| TECHNICAL (inc. Social Value) | Quality | 70% |
| COMMERCIAL | Cost | 20% |
| PRESENTATION | Quality | 10% |
Other information
Payment terms
Please see Invitation to Tender documents for more information
Description of risks to contract performance
Please see Invitation to Tender documents for more information
Conflicts assessment prepared/revised
Yes
Procedure
Procedure type
Open procedure
Documents
Associated tender documents
Attachment 1 - About the Procurement.docx
Attachment 2 - How to Bid including Evaluation Criteria.docx
Attachment 3 - Statement of Requirements.docx
Attachment 4 - DLT Price Schedule.xlsx
Attachment 5 - Conditions of Participation Form.docx
Attachment 6 - HMG Vendor Security Questionnaire.xlsx
Contracting authority
HM Treasury
- Public Procurement Organisation Number: PGJQ-4844-JJMM
1 Horse Guards Rd
London
SW1A 2HQ
United Kingdom
Contact name: Carlos Freitas
Email: digit@hmtreasury.gov.uk
Region: UKI32 - Westminster
Organisation type: Public authority - central government