asset managers, pension funds, and treasury teams to deposit gilts into custody, enable them as collateral, and access sterling liquidity through on‑chain mechanisms. Liquida targets inefficiencies in traditional repo and gilt markets such as limited market hours, settlement cycles, and fragmented access. The infrastructure is designed to operate within the Bank of England’s Digital Securities Sandbox, aligning programmable collateral, risk controls, and settlement with existing safeguards. Through this approach, Liquida supports continuous, collateralised liquidity for institutional users while keeping sovereign bonds on balance sheet.