# AscendFi and M1XGlobal Complete Stellar’s First Institutional Repo By John Kim Canonical URL: https://www.tokenpost.com/news/business/39637 Published: 2026-10-24T04:35:24.000Z Updated: 2026-10-24T04:35:24.000Z Section: Business > 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. ## Links in this article - [Tradeweb repo using a tokenized two-year Treasury as collateral for overnight financing](https://www.tokenpost.com/news/business/31513)