Digital Asset and a group of main financial firms have executed the first financing in the real -time chain of the United States Treasury Bonds against the USDC in the Canton Network.
The repository trade, carried out in Tradeweb, was atomically established on a Saturday, avoiding limitations only from Monday to Friday of traditional settlement systems, according to a press release shared with Coindesk on Tuesday.
Prime Brokers turned the United States Treasury Bonds into The Depository Trust & Clearing Corporation (DTCC) In tokenized assets in Canton, then he used them as a guarantee for financing backed by the USDC. The Canton Network is a privacy -centered block chain developed by Digital Asset.
The institutions involved in the transaction include Bank of America (BAC)Circle (CRCL)Citadel Securities, Cumberland DRW, DTCC, Hidden Road, Societe Generale, Virtu Financial and Tradeweb. Most of these companies invested in digital assets in their fundraising round of $ 135 million in June.
The token of government debt, a crucial collateral asset in global markets, is part of a broader impulse to bring financial instruments, or active world assets, to blockchains. Global banks and asset administrators explore tokenization to reduce liquidation times, increase transparency and keep the markets open throughout the day.
The participants in the Canton transaction said that it marks a step towards a unified market structure that combines the traditional finance scale with the programability of the decentralized blockchain rails. They plan more transactions at the end of this year.
“[The transaction] It demonstrates how market participants can unlock collateral mobility in real time and 24 -hour financing using chain assets, which feels the foundations for a fundamentally more efficient and accessible global financial system, “said Kelly Mathieson, director of Commercial Development of Digital Asset, in a statement.
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