Tokenovate Completes Intra-Day Repo on Canton Network with USDC

Tokenovate, a UK-based fintech company, has successfully completed an intra-day repurchase agreement (Repo) on the Canton Network using USDC. This significant milestone is part of Tokenovate's broader ambition to modernize financial infrastructure as markets shift towards T+1 settlement.

The Repo transaction utilizes the FINOS Common Domain Model (CDM), which defines how financial products are structured, traded, and managed across their lifecycle. The use of USDC, a compliant dollar-based stablecoin issued by Circle, enables efficient intraday liquidity management and faster collateral.

Richard Baker, founder and CEO of Tokenovate, said the repo transaction demonstrates how native CDM, the Canton Network, and tokenized cash and securities can work together to deliver highly scalable, repeatable, programmable post-trade workflows. Georg Schneider, Global Head of RWA at Digital Asset, noted that intra-day repo is exactly the kind of market activity Canton was built to support.

Tokenovate's participation in the governance and development of the Canton ecosystem as a General Member of the Canton Foundation further solidifies their commitment to modernizing financial infrastructure.