Solstice and Cor Prime Execute First Institutional Stablecoin-for-Stablecoin Repo on a Public Blockchain
[PRESS RELEASE – Zug, Switzerland, December 23rd, 2025]
The transaction was settled and serviced by way of Membrane’s post-trade credit score infrastructure and executed below a GMRA and Digital Asset Annex, establishing the primary standardized stablecoin funding market on public blockchains.
Solstice Labs, Cor Prime, and Membrane Labs at present introduced the profitable completion of the primary institutional stablecoin-for-stablecoin repurchase settlement (Repo) executed below conventional market documentation and settled on a public blockchain. The transaction marks the creation of a standardized, institutional-grade stablecoin funding market that brings acquainted TradFi liquidity instruments immediately onto public blockchain rails.
The repo was executed bilaterally below a Global Master Repurchase Agreement (GMRA) and Digital Asset Annex, with asset and money legs transferred immediately between institutional wallets on Solana and Ethereum. Membrane’s institutional post-trade credit score infrastructure supplied on-chain settlement, servicing, and lifecycle administration, enabling cross-chain motion of property with full possession switch and repo-style unwind.
This construction represents the primary time a native stablecoin has served because the asset leg in an institutional repo. Solstice posted its native stablecoin, USX, because the asset leg, whereas Cor Prime supplied USDC because the money leg. The two legs will unwind at maturity at a worth reflecting the agreed-upon repo fee. Unlike smart-contract lending swimming pools, this transaction mirrors the authorized, operational, and financial mechanics of conventional repo markets.
A New Funding Primitive for Stablecoins
Stablecoins range broadly in liquidity, regulatory remedy, and institutional adoption. Until now, issuers and merchants have lacked the funding instruments utilized in conventional markets to supply liquidity, defend pegs, or entry short-term financing with out promoting stock. Overcollateralized loans and automated lending swimming pools have been the one obtainable fashions, neither of which resembles institutional repo buildings.
By enabling USX to be financed towards USDC by way of a standardized repo, Solstice positive aspects new flexibility in stability sheet administration and peg resilience. The construction additionally opens new avenues for buyers to earn structured returns utilizing market mechanics they already perceive.
“This repo reveals that stablecoins can use the identical stability sheet instruments as conventional market members,” mentioned David Plisek, COO of Solstice. “For Solstice and USX, it reinforces peg resilience by way of disciplined liquidity administration and permits surplus capital to boost structured, low-risk yield for the protocol with out compromising stability.”
New Institutional Infrastructure for Onchain Credit Markets
Membrane supplied the post-trade credit score infrastructure required to execute, margin, settle, and service the repo throughout chains. Its platform permits establishments to transact utilizing acquainted authorized documentation whereas benefiting from the pace and finality of public blockchain settlement.
“This is step one towards a true institutional repo marketplace for digital property. Stablecoin collateral can now transfer with authorized certainty, operational self-discipline, and time period construction, all on public blockchains,” mentioned Carson Cook, CEO at Membrane. “Membrane is constructing the pre-and post-trade credit score infrastructure layer that can make this market operate at world scale.”
Cor Prime equipped the institutional liquidity required to make the repo practical, performing because the OTC counterparty and enabling the primary cross-chain repo settlement between stablecoins on a public community.
“Working in partnership with Solstice Labs and Membrane, this repo transaction demonstrates that systematically integrating off-chain liquidity with on-chain markets strengthens the whole ecosystem,” mentioned Tim Bevan, CEO at Cor Prime. “The result’s a extra environment friendly market, the place capital can transfer seamlessly to the place it’s best utilized.”
A Foundation for a Stablecoin Funding Curve
The profitable completion of this transaction establishes the premise for a true funding marketplace for stablecoins throughout public blockchains. As this construction evolves, issuers will have the ability to handle liquidity extra successfully, market makers will acquire entry to stablecoin financing aligned with institutional requirements, and buyers will have the ability to earn repo-style returns backed by digital property.
This is step one towards a standardized stablecoin funding curve, bringing repo-style financing — some of the vital liquidity mechanisms in world markets — into the digital asset ecosystem.
About Solstice
Solstice Finance is a decentralized finance protocol developed by Solstice Labs AG, a Deus X Enterprise firm, in partnership with the Solstice Foundation. Collectively they’re reimagining asset administration for the onchain period. Solstice’s Protocol leverages a licenced accepted supervisor and fund to supply institutional-grade entry to DeFi and TradFi buyers. Key merchandise embody USX, a Solana-native stablecoin alongside Solstice’s YieldVault, a democratized yield-bearing protocol that permits members to entry institutional-grade delta-neutral yields.
Bolstering the group’s crypto credentials, Solstice Labs AG additionally operates Solstice Staking AG, some of the trusted infrastructure suppliers within the business, securing over $1 billion in property throughout 9,000+ validator nodes.
Users can study extra at https://solstice.finance and observe @solsticefi in addition to @solsticestaking.
About Membrane
Membrane is the main world supplier of custodian- and blockchain-agnostic credit score infrastructure. Its patented expertise helps end-to-end pre- and post-trade workflows, enabling establishments to find, execute, settle, and handle mortgage, repo, and collateral lifecycles with confidence.
Users can study extra at https://membranelabs.com/.
About Cor Prime
Cor Prime is an institutional-grade digital asset credit score platform designed to deploy funding utilizing bank-style threat structure. The agency supplies collateralised credit score by way of legally segregated, bankruptcy-remote buildings, combining rigorous counterparty due diligence, steady collateral monitoring, and predefined margining and liquidation processes. Backed by first-loss capital and working below regulatory oversight, Cor Prime permits institutional buyers to entry yield in digital asset markets with a sturdy focus on capital preservation and threat management.
Users can study extra at https://corprime.com/.
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