1 min read
Add as a preferred source on GoogleAscendFi and M1XGlobal Complete Stellar’s First Institutional Repo
The transaction used USDM1, a sovereign bond backed by U.S. Treasuries, as collateral.
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
John Kim reports on the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.