AscendFi and M1XGlobal Complete Stellar’s First Institutional Repo

AscendFi and M1XGlobal completed Stellar’s first institutional repo on Oct. 23, using a U.S. Treasury-backed bond as collateral in a transaction announced by Stellar. The collateral was USDM1, a sovereign bond backed by U.S. Treasuries. Stellar is a public blockchain that supports financial products and services. The Stellar deal is separate from a Tradeweb repo using a tokenized two-year Treasury as collateral for overnight financing . In that transaction, BNY Mellon provided the cash and Citadel Securities used the tokenized Treasury as collateral. John Kim reports on the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.

Source: TokenPost