ChainCatcher message, Digital Asset and several large Wall Street financial firms have completed the first real-time, fully on-chain financing of U.S. Treasury bonds for 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 restricted to weekdays. This 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 financing supported by USDC. Institutions participating in this transaction include Bank of America (BAC), Circle (CRCL), Citadel, Cumberland DRW, DTCC, Hidden Road, Société Générale, Virtu Financial, and Tradeweb.
