Archax, a UK Financial Conduct Authority-regulated digital asset platform, has adopted the oracle platform Chainlink to increase the utility of $GOVY, its tokenised US Treasury bill.
The initiative will enable onchain lending, collateral, and treasury-management applications for banks, asset managers, and DeFi users, according to Archax.
Every token is pegged one-to-one with short-dated US Treasury bills held in regulated custody through Archax, with Northern Trust holding the underlying securities.
As each bill matures, it is automatically replaced with an equivalent short-dated security, Archax says.
Archax has expanded $GOVY’s distribution across Ethereum, Hedera, and Stellar, among others, through Chainlink Data Streams.
The firm says $GOVY, as programmable collateral, can support secured lending and credit markets rather than remaining a passive asset; automate collateral management; and support margin and trading applications.
$GOVY is also structured as a perpetual product designed to align with High-Quality Liquid Assets principles.
The tokenised US Treasury bill is designed to support the 24/7/365 nature of institutional digital finance.
Speaking on the initiative, Johann Eid, chief business officer at Chainlink Labs, says: “By connecting Chainlink’s market-leading data infrastructure and Archax’s one-to-one custody model, $GOVY bypasses the friction of traditional Treasury products, enabling it to be adopted seamlessly across onchain protocols as verifiable, yield-bearing collateral.”
Nick Donovan, chief revenue officer at Archax, adds: “Chainlink Data Streams provides the industry-standard pricing infrastructure needed to integrate $GOVY into sophisticated lending, collateral, and treasury management applications, turning it into a programmable asset that both banks and DeFi protocols can integrate at scale.”
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