6:45 pm on a Friday, the financial world effectively goes into hibernation. While 24/7 trading has been a reality for years, post-trade operations - the settlement and collateral movement - still takes the weekend off. That just changed.
A series of foundational trades took place in July and October 2025. Some of the biggest institutions - including Bank of America, Citadel Securities, and Goldman Sachs - successfully executed live repo transactions of onchain US Treasury bills against stablecoins. Not a simulation; real cash and securities onchain, moving between regulated institutions on the Canton Network.
On the other side of the pond, Lloyds executed a market-first purchase of tokenized Gilts with tokenized deposits, and LSEG launched its digital settlement platform (DiSH) on Canton, putting it to work in another industry-first.
The timing is critical. Our global markets are fighting against a "manual burden" that creates a massive drag on performance. 58% of market participants are currently struggling with collateral management and margining issues. We are essentially trying to run a high-speed digital economy on legacy systems that require human intervention to move assets.
When volatility hits - as we saw during the Silicon Valley Bank crisis - liquidity crises are now measured in minutes, not days. If your collateral is stuck in a manual settlement queue over a weekend, you are exposed. These trades prove we can finally move assets "at the time and pace that markets move".
The data: unlocking the frozen trillions
To understand the momentum here, you have to look at the sheer scale of the opportunity being unlocked:
We are looking at a path toward mobilizing USD 243 trillion in new collateral by making traditional assets as liquid and transferable as digital ones.
“Liquidity crises are now measured in minutes, not days. If your collateral is stuck in a manual settlement queue over a weekend, you are exposed. These trades prove we can finally move assets "at the time and pace that markets move."
The industry case for change is no longer a theoretical debate - it’s an operational mandate. For years, the knock on blockchain in finance was that it was a solution looking for a problem. But when you look at the "burning carry" problem - where firms lose income because their collateral is stuck in non-yielding cash over the weekend - the problem is very real and very expensive.
The true value revealed in these trades isn't just the speed; it's the privacy. Institutional players have been rightfully hesitant to put their strategies on public ledgers where everyone can see their moves.
By proving that you can have atomic, 24/7 settlement while keeping your sensitive inventory data private, the Canton Network has removed one of the biggest roadblocks to adoption.
When 29% of banks and brokers are already planning to use tokenized collateral by 2026, you know the momentum has shifted. The goal is simple: making a bond act like a bond, just faster and cheaper. The financial "weekend" is becoming a thing of the past. It’s time our collateral started working as hard as we do.
Get the report based on research and interviews with the industry practitioners now making this a reality.
Download the report: Treasuries on-chain: An industry case for change here.