Solstice Labs, Cor Prime, and Membrane Labs have successfully executed the first institutional stablecoin repurchase agreement (repo) on a public blockchain, utilizing Solana and Ethereum networks. The transaction was facilitated through Membrane’s post-trade credit infrastructure, adhering to the Global Master Repurchase Agreement (GMRA) and its Digital Assets Addendum. In this groundbreaking deal, Solstice’s USX served as the asset leg, while Cor Prime utilized USDC as the cash leg, marking a significant milestone as the first instance of a stablecoin being used as the asset leg in an institutional repo. This innovative structure aims to enhance liquidity management and provide structured yield opportunities, bridging the gap between traditional finance and digital assets. A repo is a short-term financing tool where assets are sold with an agreement to repurchase them, offering a mechanism for liquidity and yield management in financial markets.