Digital Asset and a group of financial institutions report that they have completed a second series of transactions involving on-chain financing of US Treasuries on the Canton Network. The update follows an initial test in July and is presented as another step in developing a shared infrastructure for collateral and financing.
According to the announcement, the latest tests introduced multiple stablecoins, SBC and USDM1, expanding the liquidity sources used in the financing setup. The group behind the work has also grown. Brale and M1X Global participated for the first time, while institutions involved in earlier phases – including Bank of America, Societe Generale, Circle, Cumberland DRW, Citadel Securities, Tradeweb and Virtu – took part again.
Reuse tokenised US Treasuries
A central feature highlighted in the release is the ability to reuse tokenised US Treasuries across different counterparties in real time. The working group positions this as an operational improvement over traditional processes for re-pledging collateral.
In total, five coordinated transactions were carried out, compared with one in July. While still in a testing phase, the group describes these as linked steps toward a wider build-out of the network’s collateral capabilities. The release notes that future stages are expected to extend the work toward cross-border activity.
