S&P Dow Jones Indices has put its iBoxx US Treasuries Index on the Canton Network, turning a major fixed-income benchmark into an onchain digital asset and signaling growing adoption of blockchain data infrastructure in traditional finance. The move was executed in partnership with Kaiko, a digital-asset market data and infrastructure provider that enabled the tokenization and onchain distribution of the index.
The iBoxx US Treasuries Index tracks US government bonds across maturities and serves as a common reference for institutional investors and fixed-income products. The tokenized version is not an investable instrument; rather, it provides financial institutions building digital products with direct blockchain access to benchmark data such as pricing and index levels.
S&P Dow Jones Indices retains control over who can access and use the onchain gauge through permissions embedded in the token, while Kaiko supplies the technology to issue and deliver the index onchain. The partners said the model could be expanded to other indexes as interest in blockchain-based financial systems grows, aiming to simplify access to benchmark data—particularly as US Treasurys increasingly serve as collateral in digital markets.
Canton Network is a public blockchain geared toward institutional use, with more than 600 participating institutions and validators and backing from firms including Goldman Sachs and Citadel. US Treasurys have emerged as an early focal point for tokenization: industry data show Treasurys account for the largest share of tokenized assets, with more than $12.5 billion in Treasurys already tokenized onchain.
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