As per Bitcoin.com, Solstice Labs, Cor Prime, and Membrane Labs have completed the first institutional stablecoin-to-stablecoin repo transaction on a public blockchain. The transaction, settled via Membrane’s post-trade credit infrastructure, used the Global Master Repurchase Agreement (GMRA) and Digital Assets Addendum, establishing a standardized model for institutional stablecoin financing. Solstice’s USX served as the asset leg, while Cor Prime provided USDC as the cash leg, with settlement occurring directly between institutional wallets on Solana and Ethereum. This marks the first time a stablecoin has been used as the asset leg in an institutional repo. The structure enables liquidity management and structured yield opportunities for investors, aligning with traditional financial mechanisms.
Solstice and Cor Prime Execute First Institutional Stablecoin Repo on Public Blockchain
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Summary
Solstice Labs, Cor Prime, and Membrane Labs executed the first institutional stablecoin repo on a blockchain, using Solana and Ethereum. The transaction, settled via Membrane’s post-trade credit infrastructure, applied the GMRA and Digital Assets Addendum. Solstice’s USX acted as the asset leg, while Cor Prime used USDC as the cash leg. This marks the first time a stablecoin served as the asset leg in an institutional repo. The structure supports liquidity management and structured yield opportunities, miring traditional finance. What is a repo? It’s a short-term financing tool where assets are sold with a promise to repurchase.
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