Collateral Management

Charlotte – October 15, 2026 -- Institutions can now pledge U.S. dollars held at a regulated bank as collateral for round-the-clock swaps trading, after Wyoming-chartered N3XT joined the Clear Markets Collateralizer® network as a custodian for USD deposits. Clear Markets is opening an account with N3XT as part of the arrangement.

The companies describe it as an industry first: USD held at N3XT and managed on Clear Markets' multi-custodian platform can secure 24/7 forwards, options and swaps traded on the Clear Markets Swap Execution Facility (CMSEF). The same collateral can also fund third-party exchanges and secure borrowing.

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.