Canton advances cross-border repo to free up $300 trillion assets via tokenization

A radical of planetary fiscal firms tokenized a repo transaction with U.K. authorities bonds for the archetypal time.

Feb 24, 2026, 1:00 p.m.

A radical of planetary fiscal firms completed the archetypal cross-border, intraday repurchase statement utilizing tokenized U.K. authorities bonds connected the Canton Network, a blockchain designed for institutions.

The transaction marks the archetypal clip integer versions of gilts, a $2-trillion market, person been utilized successful an intraday repo crossed borders, according to a merchandise shared with CoinDesk. It besides includes the archetypal cross-currency commercialized successful which tokenized gilts were exchanged against tokenized deposits denominated successful a currency different than the British pound.

In a repo, 1 enactment sells a information and agrees to bargain it backmost later, often the aforesaid day. Banks and trading firms usage these deals to rise short-term cash. By placing some the currency and the enslaved connected a shared blockchain, the radical aims to determination collateral successful existent clip alternatively than waiting for accepted marketplace hours.

Participants successful the latest circular see LSEG, Euroclear, DTCC, Tradeweb, Citadel Securities and Societe Generale, on with integer plus firms specified arsenic Archax and Cumberland DRW. TreasurySpring embedded involvement payments and hazard presumption straight into astute contracts tied to the trades.

The maneuver fits into Canton's bigger ambition to marque $300 trillion of planetary assets specified arsenic authorities bonds much utile arsenic collateral by tokenizing them connected a blockchain, Kelly Matheison, main concern improvement serviceman of Digital Assets, said successful an interrogation with CoinDesk.

Digital Asset is the cardinal improvement steadfast down the Canton Network, and raised funds past twelvemonth from fiscal heavyweights specified arsenic Goldman Sachs, DRW, Citadel Securities, BNY and Nasdaq.

"There are astir $300 trillion of high-quality liquid assets astir the globe," Matheison said. "Yet lone astir 10%-11% of that — astir $28 trillion — is utilized arsenic collateral astatine immoderate fixed time."

The crushed for that is timing. In accepted markets, firms indispensable program days up to determination securities crossed borders, navigating colony cycles, batch processing and marketplace cut-off times.

"At a applicable level, it restricts the magnitude of high-quality liquid assets that you tin get successful usage astatine immoderate constituent successful time," she said.

Using blockchain ledgers similar Canton for these transactions allows counterparties to transportation ownership successful real-time and around-the-clock, alternatively than waiting for batch colony windows. That way, fiscal firms tin usage their equilibrium sheets much efficiently and commercialized more, Mathieson said.

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