[Virtu Financial, M1X Global, and Tradeweb Complete First On-Chain Repo Using Sovereign Digital Bond Collateral in Under 10 Minutes] Odaily Planet Daily reports that financial services company Virtu Financial, M1X Global, and electronic trading platform Tradeweb have completed an on-chain repo transaction using the USDM1 sovereign digital bond issued by the Republic of the Marshall Islands as collateral. The entire transaction process was conducted on the Canton Network and settled within 10 minutes. USDM1 is a dollar-denominated, on-chain issued sovereign bond backed 1:1 by short-term U.S. Treasury securities. It pays interest while being used as collateral and constitutes fully collateralized sovereign debt under New York law. According to the parties involved, this is the first repo transaction combining natively issued sovereign collateral with fully on-chain atomic settlement. USDM1 can be electronically traded via Tradeweb, with institutional custody services provided by Anchorage Digital, BitGo, and tZERO. The Canton Network is designed for institutional finance, featuring privacy and permission mechanisms for regulated transactions and tokenized assets. (Cointelegraph)