Institutional clients, including Virtu, are trading RWA swaps with over 100 reference markets, spanning equities, equity indices, ETFs, metals, energy, and FX, Ripple says
The transaction is a total return swap, with DRW acting as counterparty and Marex as the swap provider, referencing the iBoxx USD Liquid Investment Grade Index, tokenised on Canton by Kaiko for the trade
The collaborative initiative aims to modernise FX infrastructure, with a specific focus on evaluating the transition from traditional T+2 settlement cycles toward real-time T+0 settlement models
Multiliquid is said to enable instant, 24/7 conversion between blue-chip tokenised market funds and stablecoins, in a bid to close the redemption constraints caused by traditional settlement cycles
