Solstice ships through the holidays. Very proud to announce the first institutional stablecoin-for-stablecoin repo transaction on a public blockchain, executed between
@solsticefi , Cor Prime and
@Membrane_Labs ✅
This marks a large step in institutional facilities entering the on-chain industry by enabling liquidity in a more seamless way.
The Repo was executed bilaterally under a Global Master Repurchase Agreement (GMRA) and Digital Asset Annex, with asset and cash legs transferred directly between institutional wallets on Solana and Ethereum.
Solstice posted its native stablecoin,
$USX, as the asset leg, while Cor Prime provided
$USDC as the cash leg. The two legs will unwind at maturity at a price reflecting the agreed-upon repo rate. Unlike smart-contract lending pools, this transaction mirrors the legal, operational, and economic mechanics of traditional repo markets.
markets.businessinsider.com/…