Virtu, Tradeweb complete onchain repo using Marshall Islands digital bond
Virtu Financial, M1X Global, and Tradeweb completed an onchain repo transaction using a sovereign digital bond issued by the Marshall Islands, fully settling on the Canton Network, as reported by Cointelegraph. The transaction involved USDM1, a US dollar-denominated bond backed 1:1 by US Treasurys, structured under New York law and paying a coupon while serving as collateral. It is claimed to be the first repo combining natively issued sovereign collateral with fully onchain atomic settlement, executed in under 10 minutes between regulated counterparties on Tradeweb. The transaction demonstrates the potential for tokenized sovereign debt to be used as collateral in institutional financing, though it remains an early example with unclear prospects for broader adoption. The Canton Network, which is designed for regulated institutional finance, has seen increased activity, including other tokenization and cross-chain transfer projects.























