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

Tokenised MMFsPilot
CFTC tokenised collateral pilot (US derivatives)
Derivatives margin · haircut Set by clearing house · since Dec 2025
Basis: CFTC staff guidance and pilot
Tokenised MMFsNot accepted
UK central counterparties
Derivatives margin · haircut — · since —
Basis: Not on published eligible lists

Asset	Venue or regime	Type	Status	Haircut	Basis	Since
Tokenised MMFs	CFTC tokenised collateral pilot (US derivatives)	Derivatives margin	Pilot	Set by clearing house	CFTC staff guidance and pilot	Dec 2025
Tokenised MMFs	UK central counterparties	Derivatives margin	Not accepted	—	Not on published eligible lists	—

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.