Virtu Financial, M1X Global, and Tradeweb Complete First On-Chain Repo Transaction Using Sovereign Digital Bond as Collateral in Under 10 Minutes

Odaily News - Financial services firm Virtu Financial, M1X Global, and electronic trading platform Tradeweb have completed an on-chain repo transaction using t…

• Virtu Financial, M1X Global, and Tradeweb successfully executed an on-chain repo transaction using the Republic of the Marshall Islands' USDM1 sovereign digital bond as collateral.
• The transaction, settled on the Canton Network in under 10 minutes, utilized a U.S. dollar-denominated digital bond backed by short-term U.S. Treasuries.
• This marks the first repo transaction combining natively issued sovereign collateral with fully on-chain atomic settlement, highlighting advancements in institutional finance and tokenized assets.

Topics: Asset types, Blockchain usage, Institutional adoption, Financial instruments, Private enterprise ledgers, Banking depository pilots

Tags: #repotransaction #sovereigndigitalbond #usdm1 #virtufinancial #m1xglobal #tradeweb #cantonnetwork #onchainsettlement #collateral #ustreasuries

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STS Digital to Use Marshall Islands’ USDM1 as Collateral in Institutional Crypto Markets

• tZERO Digital Asset Securities, an SEC-registered broker-dealer, now offers custody for the Marshall Islands' sovereign digital bond, USDM1.
• USDM1 is a U.S. dollar-denominated bond backed by short-duration U.S. Treasury instruments, issued natively on blockchain networks like Stellar, Canton, and Solana.
• This development facilitates institutional access to tokenized sovereign debt within a regulated framework, aligning with the broader trend of integrating digital assets into traditional finance.

Topics: Asset types, Jurisdictions, Institutional adoption, Financial instruments, Cross jurisdictional policy, Banking depository pilots

Tags: #usdm1 #marshallislands #tzero #sovereigndigitalbond #ustreasuryinstruments #digitalsecurities #institutionalinvestors #blockchain #custody

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