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

A group of global financial firms tokenized a repo transaction with U.K. government bonds for the first time. What to know : A group of major financial firms including DTCC executed the first cross-border intraday repo using tokenized U.K. government bonds on the Canton Network. The trade included the first cross-currency transaction in which tokenized gilts were exchanged for tokenized deposits in a non-sterling currency, with smart contracts embedding interest and risk terms. Proponents say using a blockchain for these repos could unlock far more of the roughly $300 trillion in high-quality liquid assets as collateral by enabling real-time, around-the-clock settlement across borders.