Franklin Templeton sold, Virtu Financial bought, and the security and the cash moved together. Tradeweb calls it the first real-time on-chain Treasury trade on its platform.
The simulated pilot covered issuance, transfer and atomic settlement of HSBC tokenised deposits against other digital assets; the bank named no counterparties or assets.
A seven-day live pilot moved cross-border settlement in under an hour, weekends included. Lloyds chose Canton for its privacy; Visa settled on a separate public chain.
DRW and HIFI traded as principals and Marex acted as prime broker and settlement agent. Temple calls it the first such repo on an exchange venue; the size was not disclosed.
