Vanguard, Wellington test tokenized MMF collateral on Canton via Nasdaq Calypso

Vanguard and Wellington Management have successfully completed a trial using tokenized money market fund (MMF) shares as collateral on the Canton Network. This pilot utilized Nasdaq’s Calypso collateral management platform to integrate digital assets into a unified pool alongside traditional financial instruments. By leveraging Nasdaq technology to issue these tokens, the firms demonstrated that digital assets can be managed through existing institutional workflows without requiring separate systems. This integration streamlines critical processes such as margin calls, eligibility checks, and post-trade updates within a single interface. The trial highlights a significant shift toward operational efficiency, as institutional adoption often hinges on minimizing the need for new, parallel infrastructure. By proving that tokenized MMF shares can function seamlessly within established collateral management systems, the project addresses a major barrier to the broader adoption of RWA tokenization. This development underscores the growing maturity of the Canton Network as a privacy-enabled blockchain for complex institutional financial operations.