Firms advance cross-border collateral mobility on Canton
24 February 2026 US
Image: Phakhawat/stock.adobe.com
Digital Asset, in collaboration with a consortium of financial institutions, has completed a fourth set of transactions on Canton.
This latest set of transactions showcases continued momentum in cross-border intraday repo activity across a growing variety of asset classes.
Demonstrating asset diversification and cross-currency momentum, the group conducted cross-border intraday repo transactions using tokenised gilts for the first time.
In addition, this round featured the first cross-currency intraday repo transaction executed using tokenised gilts against non-GBP tokenised deposits.
Chris Elms, CEO of Euroclear UK & International, says: “These Canton-enabled transactions represent a significant step forward for the industry working group in successfully tokenising gilts, while also demonstrating the encouraging pace at which transactions are now progressing across multiple asset classes.”
The move follows Canton’s industry working group’s third set of transactions conducted in December 2025, which featured cross-border intraday repo transactions across multiple asset classes, multiple currencies, and leveraged tokenised deposits.
“With greater asset diversity and expanded participation from partners, we are paving the way for more efficient, liquid, and scalable capital markets,” notes Kelly Mathieson, chief business development officer at Digital Asset. “We’re eager to continue progress in European markets as well as other key markets in 2026.”
Participants in the latest set of transactions included: LSEG, Euroclear, Citadel Securities, Tradeweb, Societe Generale, Virtu Financial, The Depository Trust & Clearing Corporation (DTCC), Digital Asset, Cumberland DRW, TreasurySpring, Archax, and IntellectEU.
Growing its participation, the fourth set of transactions welcomed Archax — a regulated digital asset exchange, broker, and custodian — as well as deeper involvement from existing members such as TreasurySpring, Euroclear, LSEG, IntellectEU, and Citadel Securities, illustrating continued traction in European markets.
Matthew Longhurst, co-founder and chief innovation officer at TreasurySpring, adds: “As a Canton network first, we have validated cross-currency intraday repo and reverse repo against UK gilts, with haircuts and repo interest embedded into the smart contracts to reflect real economic and risk terms.
“These transactions advance our long-term vision of frictionless liquidity and collateral mobility across borders, sectors, and currencies, all within an institutional governance framework. We believe these advances will bring real benefits to our clients, allowing both more efficient cash portfolio allocations and increased utility of Fixed-Term Funds.”
These transactions underscore the value of 24/7, global collateral mobility in action and help further the acceleration toward a more scalable, always-on capital markets infrastructure, according to Canton.
The working group plans to continue to collaborate on onchain financing initiatives throughout 2026.
The Canton Network is public, permissionless blockchain purpose-built for institutional finance — combining privacy, compliance, and scalability.
Governed by the Canton Foundation with participation from global financial institutions, Canton enables real-time, secure synchronisation and settlement across multiple asset classes on a shared, interoperable infrastructure.
This latest set of transactions showcases continued momentum in cross-border intraday repo activity across a growing variety of asset classes.
Demonstrating asset diversification and cross-currency momentum, the group conducted cross-border intraday repo transactions using tokenised gilts for the first time.
In addition, this round featured the first cross-currency intraday repo transaction executed using tokenised gilts against non-GBP tokenised deposits.
Chris Elms, CEO of Euroclear UK & International, says: “These Canton-enabled transactions represent a significant step forward for the industry working group in successfully tokenising gilts, while also demonstrating the encouraging pace at which transactions are now progressing across multiple asset classes.”
The move follows Canton’s industry working group’s third set of transactions conducted in December 2025, which featured cross-border intraday repo transactions across multiple asset classes, multiple currencies, and leveraged tokenised deposits.
“With greater asset diversity and expanded participation from partners, we are paving the way for more efficient, liquid, and scalable capital markets,” notes Kelly Mathieson, chief business development officer at Digital Asset. “We’re eager to continue progress in European markets as well as other key markets in 2026.”
Participants in the latest set of transactions included: LSEG, Euroclear, Citadel Securities, Tradeweb, Societe Generale, Virtu Financial, The Depository Trust & Clearing Corporation (DTCC), Digital Asset, Cumberland DRW, TreasurySpring, Archax, and IntellectEU.
Growing its participation, the fourth set of transactions welcomed Archax — a regulated digital asset exchange, broker, and custodian — as well as deeper involvement from existing members such as TreasurySpring, Euroclear, LSEG, IntellectEU, and Citadel Securities, illustrating continued traction in European markets.
Matthew Longhurst, co-founder and chief innovation officer at TreasurySpring, adds: “As a Canton network first, we have validated cross-currency intraday repo and reverse repo against UK gilts, with haircuts and repo interest embedded into the smart contracts to reflect real economic and risk terms.
“These transactions advance our long-term vision of frictionless liquidity and collateral mobility across borders, sectors, and currencies, all within an institutional governance framework. We believe these advances will bring real benefits to our clients, allowing both more efficient cash portfolio allocations and increased utility of Fixed-Term Funds.”
These transactions underscore the value of 24/7, global collateral mobility in action and help further the acceleration toward a more scalable, always-on capital markets infrastructure, according to Canton.
The working group plans to continue to collaborate on onchain financing initiatives throughout 2026.
The Canton Network is public, permissionless blockchain purpose-built for institutional finance — combining privacy, compliance, and scalability.
Governed by the Canton Foundation with participation from global financial institutions, Canton enables real-time, secure synchronisation and settlement across multiple asset classes on a shared, interoperable infrastructure.
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