Nonco

New York – September 15, 2026 -- Nonco, an institutional digital asset firm with over $100 billion in bilateral OTC trading volume, will accept USDM1, described as the world's first natively issued secured sovereign bond, as collateral across its derivatives, financing and institutional trading operations.

Nonco expands collateral toolkit beyond tokenized money market funds to sovereign debt

The firm, which counts more than 900 institutional counterparties, previously used Superstate's USTB tokenized money market fund shares as collateral in a bilateral BTC/USD options trade. USDM1 marks its move into natively issued sovereign debt as collateral, distinct from payment stablecoins structured as corporate obligations or tokenized fund interests.