Tokenovate has completed an intraday repurchase agreement on Canton Network using the FINOS Common Domain Model and USDC as the cash leg, marking a step toward automated repo market infrastructure on institutional blockchain rails.
The transaction demonstrates how CDM-native workflows, Canton's privacy-preserving settlement layer, and tokenised cash can operate together in a single, programmable post-trade cycle. Tokenovate, a UK-based fintech focused on post-trade lifecycle automation and digital settlement, said the successful repo is part of a broader push to modernise financial infrastructure as markets shift toward T+1 and eventually same-day settlement models.
The FINOS Common Domain Model defines how financial products are structured, traded, and managed across their lifecycle. Its use in the transaction means the repo was expressed in a standardised, machine-readable format that can be replicated and automated across counterparties and systems without bespoke integration work for each deployment.
Richard Baker, founder and CEO of Tokenovate, said the transaction shows how CDM, Canton, and tokenised cash and securities can work together to deliver scalable, repeatable, programmable post-trade workflows.
"Intraday repo is exactly the kind of market activity Canton was built to support," said Georg Schneider, Global Head of RWA at Digital Asset. "Institutions need assets and cash to move together quickly without sacrificing privacy, control or existing market standards."
Tokenovate is a General Member of the Canton Foundation and will participate in the governance and development of the Canton ecosystem going forward.
