Virtu Financial, M1X Global and Tradeweb completed an onchain repo transaction using a sovereign digital bond as collateral, with the full transaction settling on the Canton Network.The transaction used USDM1, a US dollar-denominated sovereign bond issued onchain by the Republic of the Marshall Islands and backed 1:1 by short-term US Treasurys. The bond pays a coupon while being used as collateral and is structured under New York law as a fully collateralized sovereign obligation.Both companies said it was the first repo to combine natively issued sovereign collateral with fully onchain atomic settlement. Executed between regulated counterparties on Tradeweb, the full repo…

In brief Binance founder Changpeng Zhao told the Bitcoin Asia conference in Hong Kong that Bitcoin will become more important than gold, with the gap now around tenfold. He said large countries have built systems for valuing and holding bullion, and would take years to shift. Zhao separately described his reserve advice to governments as “a little bit self-serving,” since BNB lands in the basket he recommends. Bitcoin will overtake gold, and it could happen as soon as the next bull run, Binance founder Changpeng Zhao told a conference audience in Hong Kong on Thursday.”I think Bitcoin will, for sure,…

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