Tradeweb executes pioneer on-chain US Treasury tokenised trade pairing
The transaction took place on the Canton Network between Franklin Templeton and Virtu Financial, and comes amid growing institutional momentum behind tokenised real-world assets.
The transaction took place on the Canton Network between Franklin Templeton and Virtu Financial, and comes amid growing institutional momentum behind tokenised real-world assets.
The license – granted via Virtu’s Irish subsidiary – will allow the firm to offer a suite of regulated crypto-asset services under a single framework, including trading and liquidity provision capabilities.
The transaction, which allows for on-chain financing of UST against USDC, was executed via Tradeweb and is set to pave the way for 24/7 global trading access to high quality liquidity assets.
New exchange offers 44 trading pairs amongst significant assets such as Bitcoin, SOL, ETH, and XRP.
The collaboration is expected to address challenges facing buy-side firms, including settlement delays, workloads and financial penalties; first client has already joined.
Incoming individuals will assume vice president and senior director roles, based in Toronto and New York.
Development will enable Virtu clients to access Glimpse data at the point of trade and inside their EMS; set to improve market insights and execution quality.
Scheduled to launch in Q1 2025, GFO-X is the UK’s first regulated and centrally cleared trading venue dedicated to digital asset derivatives.
New offering has been designed as a “co-pilot” for traders, allowing them to switch algorithms throughout the life of an order based on its characteristics and market conditions.
The move will provide buy-side firms with execution capabilities for more than 21,000 equities across 24 European countries.