After a successful US Treasurys project, Digital Asset has turned its attention to collateralizing more bonds and gold.
Digital Asset has completed another large pilot project demonstrating the tokenization power of its Canton Network. This time, it worked with clearing and settlement service Euroclear, the World Gold Council and global law firm Clifford Chance to tokenize gold and bonds — Eurobonds and gilts.
The project brought together 27 unnamed market participants, including 11 observers, on the Canton testnet, where they tokenized assets and used them as collateral in over 500 real-time atomic transactions divided into six categories.
Research cited by Digital Asset shows there is a $230-trillion “universe of marketable securities,” but the global collateral market amounts to just $25.5 trillion. Eurobonds and gilts (the term used for bonds in the British Commonwealth) are popular and easily accessible and so a natural choice to use as collateral.
