Virtu and Tradeweb successfully completed an on-chain repurchase agreement (repo). They used a Marshall Islands digital bond, USDM1, as collateral. The full repo cycle on the Canton Network finished quickly, in under ten minutes.
Financial firms Virtu and Tradeweb recently finished an important financial trade using blockchain technology. This was an 'on-chain repurchase agreement,' also known as a repo. In a repo, one party sells securities to another and agrees to buy them back later at a higher price. This specific deal used a 'digital bond' called USDM1, issued by the Marshall Islands, as the security. A digital bond is a traditional bond recorded and managed on a blockchain. The entire transaction took place on the Canton Network. Impressively, the full cycle was completed in less than ten minutes. This shows how quickly financial trades can happen with new blockchain tools.
451.788 SRY