Derivnex and Canton Complete First On-Chain OTC Swap Transaction

Derivnex and Canton Network have announced the completion of their first on-chain over-the-counter (OTC) swap transaction, marking the official launch of Derivnex's derivatives lifecycle management platform for institutional markets. The transaction is a total return swap, with DRW as the counterparty and Marex as the swap provider, referencing the iBoxx USD Liquid Investment Grade Index. This index has been tokenized on the Canton network by Kaiko. Through Derivnex, this OTC transaction has been converted into a smart contract on Canton, which includes the transaction terms and can be continuously managed throughout the transaction lifecycle, providing DRW and Marex with shared and synchronized transaction records for valuation updates and subsequent lifecycle event handling.

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