Tokenisation · Collateral

Where tokenised assets count as collateral.

Which tokenised funds and treasuries are accepted as margin or collateral, at which venue, on what haircut and under which rule. The question treasurers and risk teams ask first.

Accepted

venue listings

Pilot

venue listings

Under review

venue listings

Not accepted

venue listings

WhereAll Exchange margin Derivatives margin Clearing and settlement Central bank collateral DeFi lending

StatusAll Accepted Pilot Under review Not accepted

USTB, JTRSY, USYCAccepted
Aave Horizon (permissioned market)
DeFi lending · haircut Loan-to-value 75–85% · since Aug 2025
Basis: Protocol governance
OUSGAccepted
Flux Finance
DeFi lending · haircut Loan-to-value ≈92% · since 2023
Basis: Protocol parameters

Asset	Venue or regime	Type	Status	Haircut	Basis	Since
USTB, JTRSY, USYC	Aave Horizon (permissioned market)	DeFi lending	Accepted	Loan-to-value 75–85%	Protocol governance	Aug 2025
OUSG	Flux Finance	DeFi lending	Accepted	Loan-to-value ≈92%	Protocol parameters	2023

Demonstration data, approximate and unverified, as at 9 November 2026. Information only, not advice. Haircuts change often and differ by client; the venue's own collateral schedule always takes precedence.

Information only, compiled from public sources with AI assistance. Not investment, legal, tax or regulatory advice, and not a recommendation to buy or sell anything. Scenarios describe what could happen and what has happened before; they are not forecasts. Prices are delayed or end-of-day. Always check the original source.