Digital Asset completes on-chain financing of US Treasury bonds for USDC on the Canton Network with Wall Street financial firms

ChainCatcher news, Digital Asset and several major Wall Street financial firms have completed the first real-time, fully on-chain financing of U.S. Treasury bonds against USDC on the Canton Network.

It is reported that this repurchase transaction was conducted on Tradeweb and settled on Saturday, thereby avoiding the limitations of traditional settlement systems that are only available on business days. This process converted U.S. Treasury bonds held by the Depository Trust & Clearing Corporation (DTCC) into tokenized assets on Canton, which were then used as collateral for USDC-backed financing. The institutions participating in this transaction include Bank of America (BAC), Circle (CRCL), Citadel, Cumberland DRW, DTCC, Hidden Road, Société Générale, Virtu Financial, and Tradeweb.