The Tokenised Collateral Series

Industry insights from live tokenised repo and Treasury trades on the blockchain

Tokenised Collateral Goes Global: Insights from Live Cross-Border Repo Trades

Collateral markets still face major inefficiencies. Manual settlement, delivery frictions and idle collateral continue to limit liquidity usage and increase operational cost across markets and time zones.

This report, developed in partnership with Digital Asset, examines how tokenised collateral and live cross-border repo trades are beginning to address these challenges through real-time, atomic settlement and broader collateral mobility.

Why collateral remains trapped and unremunerated in today’s market
How tokenised repo is enabling cross-border execution
Where operational savings are already emerging
Why 24/7 and multi-time-zone collateral mobility matters
What this means for institutional and corporate participants

What happens when Treasuries go on chain?

A series of recent, foundational repo transactions in July and October 2025 have provided powerful evidence of what’s possible today.

Drawing on extensive debriefs with all of the key parties involved, and in partnership with Digital Asset, Treasuries on-chain: An industry case for change provides fresh and practical insight into collateral tokenization today:

What took place with the transactions in July and October 2025
What the transactions mean for collateral and repos
The key industry challenges and benefits of tokenized collateral
The business case for tokenizing real-world assets
The critical considerations for making tokenized collateral a reality

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The Tokenised Collateral Series

Tokenised Collateral Goes Global: Insights from Live Cross-Border Repo Trades

What happens when Treasuries go on chain?

Transform our data into your strategy

Ready to take your strategy to the next level? Have a project idea you want to validate with the market?

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