Digital Asset completes second set of transactions on Canton Network
10 December 2025 US
Image: Ameer/stock.adobe.com
Digital Asset, in collaboration with a consortium of financial institutions, has announced the completion of a second set of transactions on the Canton Network, building upon the momentum of the initial onchain US Treasury financing completed in July.
The firm says that this completion demonstrates progression toward a scalable, always-on capital markets infrastructure, showcasing expanded onchain liquidity, broader participation, and a real-time collateral reuse.
Members of the working group focused on advancing onchain initiatives include: Bank of America, Brale, Circle, Citadel Securities, Cumberland DRW, Digital Asset, M1X Global, Societe Generale, Tradeweb, and Virtu Financial.
Building on the inaugural transaction, which established the feasibility of fully onchain US Treasury financing against USDC, the firm says this latest development demonstrates more stablecoin liquidity, expanded participation, and onchain reuse of collateral.
Sonali Theisen, global head of FICC E-Trading and markets strategic investments at Bank of America, says: “We are continuing to explore innovative applications of new technologies in various areas, including collateral mobility, and are excited about the potential opportunities leveraging distributed ledger technology within financial markets.”
Kelly Mathieson, chief business development officer, Digital Asset, comments: “This second wave of transactions shows that these are not one-off demonstrations but part of a thoughtful progression toward a new market model.
“By proving out collateral reuse, expanding stablecoin liquidity, and increasing participation, the Canton Network is delivering tangible milestones on the path to more efficient, liquid, and scalable capital markets — with more to come before the end of 2025.”
Ben Milne, CEO of Brale, adds: “Direct conversion from Treasuries to stablecoins inside a market trade delivers efficiency that’s been promised for years but never realised.
“Canton finally makes institutional-grade blockchain workflows real, composable, programmable, and ready for global markets. Brale is proud to support these institutional workflows with our regulated infrastructure and stablecoin issuance capabilities.”
The firm says that this completion demonstrates progression toward a scalable, always-on capital markets infrastructure, showcasing expanded onchain liquidity, broader participation, and a real-time collateral reuse.
Members of the working group focused on advancing onchain initiatives include: Bank of America, Brale, Circle, Citadel Securities, Cumberland DRW, Digital Asset, M1X Global, Societe Generale, Tradeweb, and Virtu Financial.
Building on the inaugural transaction, which established the feasibility of fully onchain US Treasury financing against USDC, the firm says this latest development demonstrates more stablecoin liquidity, expanded participation, and onchain reuse of collateral.
Sonali Theisen, global head of FICC E-Trading and markets strategic investments at Bank of America, says: “We are continuing to explore innovative applications of new technologies in various areas, including collateral mobility, and are excited about the potential opportunities leveraging distributed ledger technology within financial markets.”
Kelly Mathieson, chief business development officer, Digital Asset, comments: “This second wave of transactions shows that these are not one-off demonstrations but part of a thoughtful progression toward a new market model.
“By proving out collateral reuse, expanding stablecoin liquidity, and increasing participation, the Canton Network is delivering tangible milestones on the path to more efficient, liquid, and scalable capital markets — with more to come before the end of 2025.”
Ben Milne, CEO of Brale, adds: “Direct conversion from Treasuries to stablecoins inside a market trade delivers efficiency that’s been promised for years but never realised.
“Canton finally makes institutional-grade blockchain workflows real, composable, programmable, and ready for global markets. Brale is proud to support these institutional workflows with our regulated infrastructure and stablecoin issuance capabilities.”
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