First Intra-Day Repo Implemented with CDM on Canton Network
Tokenovate has successfully executed and settled the first intra-day repurchase agreement (repo) on the Canton Network, utilizing the FINOS Common Domain Model (CDM) for standardized lifecycle management. The transaction utilized USDCx, a tokenized version of Circle’s USDC, to achieve near real-time settlement finality and programmable collateral mobility. By integrating CDM-native event management with distributed ledger technology, the initiative demonstrates how financial institutions can automate complex post-trade workflows to meet the demands of accelerated settlement cycles like T+1. Tokenovate also joined the Canton Foundation as a General Member to further support the development of interoperable, on-chain financial infrastructure. This milestone highlights the industry's shift toward standardized, automated liquidity management and collateral movement across regulated markets. The successful demonstration proves that digital assets and traditional legal standards can coexist within a unified, programmable framework. This development is critical for the RWA market as it provides a scalable blueprint for institutions to enhance operational resilience and capital efficiency in a digital-first financial ecosystem.