Membrane Labs integrates USDM1 into lending infrastructure
09 November 2026 US
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Membrane Labs has integrated USDM1, a US dollar-denominated sovereign bond issued natively onchain by M1X Global, into its institutional credit and lending infrastructure.
The addition of USDM1 expands the range of assets available through Membrane's platform for collateralised financing, alongside stablecoins and tokenised fund interests.
Developed by M1X Global, USDM1 is secured on a 1:1 basis by short-duration US Treasury instruments.
Through the integration, eligible institutional trading desks, borrowers, lenders, and custodians can access the asset for bilateral lending, repo, collateral management, and financing activities.
The integration connects natively issued sovereign debt with the credit, risk management, and collateral infrastructure required to support institutional financing activity, the firm says.
The integration builds on USDM1's growing use in institutional financing markets. The instrument previously served as the sovereign securities leg in what the firms described as the first fully onchain repo transaction involving Virtu Financial and Tradeweb on the Canton Network.
It was also used in an institutional repo transaction on Stellar, which included 72 automated hourly repo rolls across overnight and weekend periods.
USDM1 is supported by institutional custody providers including Anchorage Digital Bank, BitGo Bank & Trust, and tZERO's regulated broker-dealer custody infrastructure.
The asset has also been adopted for institutional collateral workflows by trading counterparties including STS Digital and Nonco.
Carson Cook, founder and CEO of Membrane Labs, says: “Integrating USDM1 gives institutional counterparties access to a new form of sovereign collateral across Membrane's prime services ecosystem.
“By combining digitally native sovereign debt with established institutional credit structures, documentation and risk-management practices, we're expanding the types of collateral that can be financed and mobilised through our infrastructure.”
Mark Lurie, co-founder and CEO of M1X Global, comments: “In institutional financing, high-quality sovereign collateral is fundamental as margin, as a liquidity management tool and as working balance-sheet inventory.
“Membrane connects lending, repo and collateral workflows across the institutional stack. Integrating USDM1 enables counterparties to finance, deploy and reuse digitally native sovereign collateral inside infrastructure institutional credit markets rely on.”
The addition of USDM1 expands the range of assets available through Membrane's platform for collateralised financing, alongside stablecoins and tokenised fund interests.
Developed by M1X Global, USDM1 is secured on a 1:1 basis by short-duration US Treasury instruments.
Through the integration, eligible institutional trading desks, borrowers, lenders, and custodians can access the asset for bilateral lending, repo, collateral management, and financing activities.
The integration connects natively issued sovereign debt with the credit, risk management, and collateral infrastructure required to support institutional financing activity, the firm says.
The integration builds on USDM1's growing use in institutional financing markets. The instrument previously served as the sovereign securities leg in what the firms described as the first fully onchain repo transaction involving Virtu Financial and Tradeweb on the Canton Network.
It was also used in an institutional repo transaction on Stellar, which included 72 automated hourly repo rolls across overnight and weekend periods.
USDM1 is supported by institutional custody providers including Anchorage Digital Bank, BitGo Bank & Trust, and tZERO's regulated broker-dealer custody infrastructure.
The asset has also been adopted for institutional collateral workflows by trading counterparties including STS Digital and Nonco.
Carson Cook, founder and CEO of Membrane Labs, says: “Integrating USDM1 gives institutional counterparties access to a new form of sovereign collateral across Membrane's prime services ecosystem.
“By combining digitally native sovereign debt with established institutional credit structures, documentation and risk-management practices, we're expanding the types of collateral that can be financed and mobilised through our infrastructure.”
Mark Lurie, co-founder and CEO of M1X Global, comments: “In institutional financing, high-quality sovereign collateral is fundamental as margin, as a liquidity management tool and as working balance-sheet inventory.
“Membrane connects lending, repo and collateral workflows across the institutional stack. Integrating USDM1 enables counterparties to finance, deploy and reuse digitally native sovereign collateral inside infrastructure institutional credit markets rely on.”
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