Digital Asset, DTCC complete collateral tokenization pilot
The project aimed for speed, privacy and legal compliance while using highly accessible and desirable US Treasury bonds as a collateral asset.
Blockchain solutions provider Digital Asset and the Depository Trust & Clearing Corporation (DTCC) have completed their US Treasury Collateral Network pilot project on the Canton Network. The project brought together 26 market participants to carry out 100 transactions.
The project used tokenized “digital twins” of Treasury bonds (USTs) in four use cases using the Canton Network Global Synchronization and DTCC LedgerScan features to demonstrate transaction flows and a case of default.
In the first use case, a digital twin was created of real-world assets (USTs) for an investor and then set aside. The digital twin was registered with the central security depository. The digital twin could be used for the same purposes as the asset itself — trading, lending or collateral, for example.
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Author: Derek Andersen
