Broadridge Financial Solutions' Distributed Ledger Repo platform handled roughly $368 billion in average daily volume in April — and nearly $8 trillion for the month. That's a 268% year-over-year jump. The numbers, disclosed this week, put hard numbers behind what has been a quiet but fast-moving shift: Wall Street is actually using blockchain for large-scale repo and collateral management, not just talking about it.
Broadridge doubles down with HQLAX
The firm made a strategic investment in HQLAX in May, extending its reach into digital collateral mobility. That deal, coming right after the April volume milestone, suggests Broadridge sees room to grow even further. The platform already sits inside a wider institutional network — Canton — which now processes more than 1 million transactions per day and roughly $9 trillion in monthly settlements across 700-plus participants including DTCC, J.P. Morgan, HSBC and Goldman Sachs.
Goldman Sachs DAP heads for spin-out
Goldman Sachs' Digital Asset Platform, built on Canton, has issued digital bonds for the European Investment Bank and Hong Kong. Now it's preparing an industry-owned spin-out slated for mid-2026. Tradeweb signed on as the first strategic partner. The move is designed to give the platform independent governance — a step that could broaden adoption beyond Goldman's own clients.
DTCC gets SEC green light for tokenized assets
DTCC received an SEC No-Action Letter in late 2025 that lets it tokenize DTC-custodied assets — U.S. Treasuries, Russell 1000 equities, major ETFs. Limited production is expected in July 2026 through its ComposerX platform, also riding on Canton. If that rollout goes smoothly, it could open a direct pipeline from legacy custody into programmable collateral and settlement.
SWIFT's blockchain bridge goes live
SWIFT's integration with Chainlink CCIP entered production in late 2025, giving more than 11,000 member banks a path to transact tokenized assets across public and private chains. In April 2026, the pair reached a major tokenized bond settlement milestone. Meanwhile, Chainlink CCIP now secures $33.6 billion across more than 60 blockchains, with its Runtime Environment posting 50% monthly sign-up growth in Q1. Clients include UBS, Euroclear, and Coinbase Wrapped Assets.
BeInCrypto awards spotlight the ecosystem
The BeInCrypto Institutional 100 Awards 2026 winners were announced at Proof of Talk in Paris on June 2. The awards recognized platforms and protocols across the institutional stack — from settlement layers to oracle networks. It's a sign that tokenization is no longer a fringe experiment; it has its own awards circuit.
J.P. Morgan's Kinexys, for its part, now processes more than $5 billion daily and over $3 trillion cumulatively since 2020, serving clients like BMW and Siemens. Visa recently joined the Canton Network as a super validator. The question now isn't whether institutions will use blockchain — it's which rails will carry the bulk of the traffic when DTCC's tokenized assets go live in July.
