Marex Serves as Prime Broker in HIFI–DRW Onchain Repo on Canton Network
MRX•Marex acted as prime broker in June 2026 HIFI-DRW onchain repurchase agreement on the Canton network, handling the cash leg via real-time payments into USDC and USDCx. The RFQ-priced trade on Tradeweb using U.S. Treasuries demonstrated simultaneous atomic settlement in seconds with confidential payment flows and competitive price discovery for institutions.
1. Prime Brokerage Role
Marex acted as the prime broker for the landmark onchain repurchase agreement, coordinating the cash leg provided by HIFI against U.S. Treasuries sourced from DRW and managing intermediary functions including collateral custody and settlement oversight.
2. Onchain Execution Details
The transaction was executed via an RFQ protocol on Tradeweb, with cash converted instantly from fiat over RTP into USDC and USDCx, and both legs settled atomically in seconds on the Canton network with confidential payment flows.
3. Strategic Implications for Marex
This demonstration validates Marex's ability to integrate traditional prime brokerage services with tokenized assets and stablecoin rails, positioning the firm to capture growing demand for real-time, 24/7 onchain funding and collateral management solutions.
