Term Structure Labs has launched TermPrime, which it describes as the first fixed-rate, fixed-term institutional financing venue on Canton Network.
In an early test, two KYB-approved counterparties completed a seven-day borrowing and lending transaction. CBTC was posted as collateral, Canton Coin was the borrowed asset, and the position was repaid before maturity. The announcement does not disclose the counterparties, notional amount, interest rate or execution date.
TermPrime is designed for institutions to transact with counterparties they already know, using existing signed agreements, approved credit lines and margin thresholds. Whitelisted firms can place limit orders in a shared order book, with matching across maturity ranges. The order book supports price discovery while transaction information, including notional amounts, remains private to the counterparties.
Assets remain in custody throughout the financing lifecycle. The platform supports margin calls, margin top-ups, liquidation, early repayment and collateral withdrawal. Transactions settle atomically through Canton’s native synchronizer, reducing the risk that one side of a transaction completes without the other.
The initial transaction demonstrates the platform’s central workflow across counterparty permissions, order matching, private trade information, custody and settlement. It remains an early test rather than evidence of established market volume.
TermPrime says future markets may include Canton Coin, CBTC, USDCx and tokenised real-world assets. The company also says additional institutions are onboarding, although it has not disclosed their identities or a timetable for new markets.
