Cross-Border Collateral Mobility on Canton Gains Momentum
Cross-border collateral mobility continues to accelerate on the Canton Network as Digital Asset and a consortium of leading financial institutions completed a fourth round of transactions. This milestone highlights expanding cross-border intraday repo activity across new asset classes and currencies.
The latest transactions demonstrate how global institutions are leveraging tokenization and distributed ledger infrastructure to enable 24/7, always-on capital markets.
Tokenized Gilts Expand Cross-Border Collateral Mobility
For the first time, participants executed cross-border intraday repo transactions using tokenized Gilts. In addition, the working group completed the first cross-currency intraday repo using tokenized Gilts against non-GBP tokenized deposits.
This development builds on the group’s December 2025 milestone, which introduced multi-asset and multi-currency intraday repo activity supported by tokenized deposits. As a result, asset diversification and cross-currency flexibility are expanding rapidly.
Broad Industry Participation Strengthens the Network
The working group includes major institutions such as:
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London Stock Exchange Group
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Euroclear
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Citadel Securities
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Tradeweb
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Societe Generale
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Virtu Financial
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Depository Trust & Clearing Corporation
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Cumberland DRW
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TreasurySpring
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Archax
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IntellectEU
Notably, Archax joined the initiative as a regulated exchange, broker and custodian. Meanwhile, deeper engagement from existing members signals growing traction across European capital markets.
Real-Time Repo and Always-On Capital Markets
Leaders across participating firms emphasized the importance of scalable, secure and compliant infrastructure.
For example, LSEG successfully completed the first tokenized intraday Gilt repo using DiSH Cash. Similarly, Euroclear highlighted how Canton-enabled transactions unlock new liquidity through real-time collateral mobility.
Furthermore, Tradeweb underscored the importance of bridging traditional and decentralized finance repo markets. At the same time, DTCC reinforced the need for industry-wide collaboration to maintain scalability and security standards in digital markets.
Digital Asset noted that expanding asset diversity and partner participation strengthens the foundation for more efficient and liquid capital markets. Cumberland DRW and TreasurySpring also emphasized that tokenization enables seamless, cross-border liquidity within institutional governance frameworks.
Scaling Cross-Border Collateral Mobility in 2026
Looking ahead, the working group plans to advance additional on-chain financing initiatives throughout 2026. Importantly, the focus will shift from successful pilots to production-grade scalability.
As infrastructure matures, cross-border collateral mobility on Canton is poised to support a more resilient, efficient and globally connected financial ecosystem.
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