💰 Stellar completes first institutional repo transaction backed by a Marshall Islands government bond
Ascend Markets and M1X Global completed the first institutional repo transaction on the Stellar mainnet.
🇲🇭 The collateral was a tokenized government bond, USDM1, issued by the Republic of the Marshall Islands and backed by short-term U.S. Treasury securities. Financing was provided in USDC.
🔹 72 automatic rollovers over three days without human involvement.
🔹 Operated around the clock, including weekends.
🔹 Total network fees for the rollovers were less than one cent.
🔹 Annual interest rate: 3.98%.
The experiment showed that government debt instruments can be used as collateral for automated financing directly on a public blockchain.
#XLM
Ascend Markets and M1X Global completed the first institutional repo transaction on the Stellar mainnet.
🇲🇭 The collateral was a tokenized government bond, USDM1, issued by the Republic of the Marshall Islands and backed by short-term U.S. Treasury securities. Financing was provided in USDC.
🔹 72 automatic rollovers over three days without human involvement.
🔹 Operated around the clock, including weekends.
🔹 Total network fees for the rollovers were less than one cent.
🔹 Annual interest rate: 3.98%.
The experiment showed that government debt instruments can be used as collateral for automated financing directly on a public blockchain.
#XLM
