Canton's Industry Working Group Advances Cross-Border Collateral Mobility on Canton

Industry working group completes first cross-border intraday repo with tokenized Gilts

NEW YORK, Feb. 24, 2026 /PRNewswire/ -- Digital Asset, in collaboration with a consortium of leading financial institutions, today announced the completion of a fourth set of transactions on Canton. This latest set of transactions showcases continued momentum in cross-border intraday repurchase activity across a growing variety of asset classes.

Participants included: LSEG, Euroclear, Citadel Securities, Tradeweb, Societe Generale, Virtu Financial, The Depository Trust & Clearing Corporation (DTCC), Digital Asset, Cumberland DRW, TreasurySpring, Archax, and IntellectEU.

Following the working group's third set of transactions conducted in December 2025, which featured cross-border intraday repurchase transactions across multiple asset classes and multiple currencies and leveraged tokenized deposits, this latest milestone demonstrates:

• Asset Diversification and Cross-Currency Momentum: For the first time, cross-border intraday repo transactions were conducted using tokenized Gilts. In addition, this round featured the first cross-currency intraday repo transaction executed using tokenized Gilts against non-GBP tokenized deposits.
   
• Growing Participation: The working group welcomed Archax, a regulated digital asset exchange, broker, and custodian, and deeper involvement from existing members, such as TreasurySpring, LSEG, Euroclear, Citadel Securities, and IntellectEU, illustrating continued traction in European markets.

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. The working group plans to continue to collaborate on groundbreaking on-chain financing initiatives throughout 2026.

LSEG

Bud Novin, Head of Payment Systems, Post Trade Solutions, LSEG said: "We are delighted to welcome Citadel Securities and TreasurySpring to the LSEG DiSH network and to have successfully completed the first tokenized intraday Gilt repo on the Canton Network using DiSH Cash. Through commercial bank deposits held on its ledger, LSEG DiSH will enable the 24/7 instantaneous beneficial ownership transfer of commercial bank money in multiple currencies and jurisdictions at any bank within its network. This reinforces the role of LSEG DiSH as a trusted third-party cash leg for digital asset transactions and as an effective solution for mobilizing networks in tokenized and digital markets. We look forward to further expanding the use cases of LSEG DiSH."

Euroclear

Chris Elms, CEO, Euroclear UK & International (EUI) commented: "In our role as the UK's CSD, we are proud to be helping drive the next phase of digital market evolution. 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. By enabling real-time, cross-border collateral mobility, EUI is helping unlock new sources of liquidity. Our focus remains on delivering digital asset solutions that generate meaningful value for clients and create a more connected and efficient marketplace."

Tradeweb

Chris Bruner, Chief Product Officer at Tradeweb, said: "As the execution platform connecting liquidity providers and the buy-side, Tradeweb is proud to play a central role in these transactions on the Canton Network. These transactions mark clear progress toward globally scalable, real-time repo activity and reflect both the market's confidence in this model, and the tangible momentum behind expanding these cross-border capabilities. As the leading platform supporting both traditional and decentralized finance repo trading, we are uniquely positioned to help bridge these markets while benefiting from Canton's post-trade efficiencies. We look forward to continuing our collaboration with Canton and other industry partners to modernize more efficient, always-on capital markets infrastructure."

DTCC

"As we help build the financial ecosystem of the future, collaboration is critically important to set industry-wide standards and to accelerate the adoption of digital assets while maintaining the same high levels of scalability, efficiency and security as experienced in traditional markets today," said Brian Steele, Managing Director, President, Clearing & Securities Services at DTCC. "This latest use case on cross-border intraday repo activity confirms the growing opportunity and demand for seamless financial infrastructure that provides a robust foundation for a digital future."

Digital Asset

''With greater asset diversity and expanded participation from partners, we are paving the way for more efficient, liquid, and scalable capital markets,'' said Kelly Mathieson, Chief Business Development Officer, Digital Asset. "Our third round of transactions completed late last year was groundbreaking as it demonstrated the ability to conduct cross-border, intraday repo activity across multiple asset classes and currencies, and this latest round builds directly off that with the incorporation of tokenized Gilts. We're eager to continue progress in European markets as well as other key markets in 2026.''

Cumberland DRW

"Demonstrating cross-border intraday repo using tokenized Gilts is an important step toward truly global, always-on collateral markets," said Chris Zuehlke, Partner and Global Head of DRW Cumberland. "Canton continues to show how tokenization can unlock real efficiency gains by enabling seamless collateral mobility across an increasingly diverse set of assets and currencies, all within a framework that meets institutional requirements."

TreasurySpring

Matthew Longhurst, Co-Founder and Chief Innovation Officer, TreasurySpring commented: "As a Canton network first, we have validated cross-currency intra-day 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."

Archax

"We were delighted to have Archax join Digital Asset, Citadel Securities, TreasurySpring and their consortium of other leading financial institutions, and support them with this intraday repo transaction using digital Gilts on the Canton Network," added Graham Rodford, CEO and Co-Founder of Archax. "Leveraging our broker/custody permissions to buy and hold traditional real-world assets, like Gilts, for clients/partners, and then our tokenisation engine to create regulated digital representations of them for innovative use cases like this, is key to the Archax vision and strategy."

IntellectEU

"What stands out in this milestone is how quickly the scope is expanding - more assets, more infrastructure capability, and more players actively involved," said Anastasiia Vitmer, Product GTM Lead at IntellectEU. "For us, the next step is ensuring this can scale from a successful pilot into production-grade adoption. At IntellectEU and Catalyst Suite, we're building the foundation that can support any institutional use case on Canton Network as on-chain markets continue to mature."

About the Canton Network
The Canton Network is the only public, permissionless blockchain purpose-built for institutional finance–uniquely combining privacy, compliance, and scalability. Governed by the Canton Foundation with participation from leading global financial institutions, Canton enables real-time, secure synchronization and settlement across multiple asset classes on a shared, interoperable infrastructure. The open-sourced network is powered by its native token, Canton Coin, and supports decentralized governance and collaborative application development. It's the proven link between the promise of blockchain and the power of global finance, making finance flow the way it should. Learn more at: canton.network.

Contact:
Paul Patella
[email protected]

SOURCE Digital Asset (US) Corp.