Broadridge's Distributed Ledger Repo platform processes $8 trillion in July volume
Quick TakeBroadridge announced that its Distributed Ledger Repo platform has processed $8 trillion in volume in July, averaging $365 billion per day.Broadridge also offers services enabling onchain proxy voting and governance, and managing digital asset infrastructure across post-trade, wallets, and custody. Broadridge Financial Solutions, a New York-listed fintech, announced that its Distributed Ledger Repo (DLR) platform processed over $8 trillion in July. According to the firms Monday press release, the blockchain-based repo platform processed an average of $365 billion per day last month, representing a 28% increase year-over-year. “Tokenization is increasingly becoming part of how institutions optimize liquidity and collateral management,” said Horacio Barakat, global head of digital innovation at Broadridge. “DLR continues to demonstrate that distributed ledger infrastructure can support the scale, reliability and interoperability required for core financing activity.” DLR allows companies to settle repurchase agreement (repo) transactions on distributed ledger technology while operating within their existing trading and post-trade environments. The use of the technology enhances efficiency and liquidity management by enabling real-time financing and movement of tokenized collateral across counterparties, according to Broadridge. Outside of DLR, Broadridge also uses blockchain technology to offer firms onchain proxy voting and governance, and to manage digital asset infrastructure across post-trade, wallets, and custody. In May, Galaxy