Repo is becoming one of the main use cases for tokenisation in the fixed income market, with privacy-enabled open blockchain provider Canton Network currently supporting US$350 billion in daily US Treasury and repo activity daily.
Broadridge’s distributed ledger repo (DLR) platform has seen considerable growth since its launch in 2021, hitting US$365 billion in average daily volumes in January 2026 – a 508% increase year-on-year – while total volumes over the month were US$7.3 trillion.
According to SIFMA, total US primary dealer repo outstanding in January was US$4.6 trillion.
In light of growing activity in the space, Bloomberg’s Data License offerings for the instruments can now be accessed on-chain. Partnering with digital asset market data and analytics provider Kaiko, the company will now provide a single, verifiable data source for the market.
This will reduce reconciliation risk and support further on-chain workflows, Bloomberg notes.
Kaiko has been offering a data on-ramp service on the Canton Network since August 2025. This allows data to be put on-chain without altering IP ownership.
Earlier this year, the Financial Stability Board (FSB) addressed the use of tokenised repo in government bond markets as part of its ‘Vulnerabilities in Government Bond-backed Repo Markets’ report.
Despite data suggesting that tokenised repo activity is currently “low”, it observed: “While it appears that there is no immediate need for further assessment, the growing number of pilots and tests suggests that tokenised repos warrant continued monitoring as part of broader tokenisation market developments.”
Considering further growth, the report noted, “There are challenges to scaling tokenised repo, including market participants’ reliance on traditional systems, the costs of upgrading back-office infrastructure, and competing priorities, such as investments to comply with regulatory changes.”
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