DRW and Marex Complete First Onchain OTC Swap Using Tokenized Index
DRW and Marex executed the first OTC swap referencing a tokenized index on the Canton Network via Derivnex.
DRW and Marex executed the first OTC swap referencing a tokenized index on the Canton Network via Derivnex. Canton (CC) is trading at $0.1302, up 0.9% since this brief published. This is an original TLT brief synthesising 2 outlets (Crypto Economy, The Block), plus live market data, as of Tue, 13 Oct 2026 17:15:02 UTC.
This transaction marks a significant milestone in institutional crypto adoption, demonstrating the viability of blockchain-based derivatives and tokenized assets for traditional financial instruments. It showcases the potential for increased transparency and efficiency in OTC markets.
- First OTC swap using tokenized index executed on Canton Network by DRW and Marex.
- Transaction utilized Kaiko's tokenized S&P DJI iBoxx USD Liquid Investment Grade Index.
- Derivnex smart contracts provided synchronized records for valuations and lifecycle events.
- Canton Network's CC token price rose 5.53% in the past 24 hours.
Both Crypto Economy and The Block report that DRW and Marex completed the first OTC swap referencing a fully tokenized index on the Canton Network via Derivnex, with Kaiko providing the tokenized S&P DJI iBoxx USD Liquid Investment Grade Index data. The reports agree on the core details of the transaction and its significance as a milestone in blockchain-based derivatives. However, The Block provides a more concise summary while Crypto Economy offers additional technical details about the smart contract implementation and future functionality plans.
DRW and Marex have executed the first over-the-counter (OTC) swap referencing a tokenized index on the 
Canton Network, utilizing Derivnex as the platform for the transaction. The swap was based on Kaiko's tokenized version of the S&P DJI iBoxx USD Liquid Investment Grade Index.
The transaction was facilitated through smart contracts on Derivnex, which provided both counterparties with synchronized records for valuations and lifecycle events. This approach demonstrates the potential for increased transparency and efficiency in OTC markets using blockchain technology.
While Crypto Economy and The Block both confirm the core details of the transaction, they differ slightly in their coverage. The Block offers a straightforward summary of the event, while Crypto Economy provides additional technical insights into the smart contract implementation and mentions future plans for expanding Derivnex's functionality.
This development comes as the total crypto market cap stands at $2.88 trillion, with the overall market showing a relatively flat trend. 
Bitcoin has seen a 24-hour increase of 0.82%, and the Fear & Greed Index is at 57, indicating a state of 'Greed' among investors.
The Canton Network's native token, CC, has experienced a 5.53% increase in the past 24 hours, currently trading at $0.129012 with a market cap of $5.14 billion. This price movement may reflect market interest in the network's role in pioneering institutional crypto transactions.
Since this brief published about 2 hours ago, Canton (CC) has moved from $0.129 to $0.1302 — +0.89%.
The chart plots CC's price: grey is the move before this brief published, the vertical dashed line marks the moment it published, the horizontal dashed line is the price then, and the coloured area is the move since — from TLT's market data (daily resolution). It shows what happened after the news, not that the news caused it; many factors move prices. Not financial advice.
At today's peer-to-peer rate, 1 CC ≈ ₦178.02 (about $0.1302), up 7.0% over 24 hours. The naira itself trades about 2.7% above the official rate on the P2P market, so a Nigerian buyer's effective cost differs from the headline dollar price.
Live market data
Current prices for the asset in this story — live, source-stamped, updated every 15 minutes.
Figures and sectors in this story, checked live against on-chain aggregators · October 13, 2026.
TLT reads these figures directly from on-chain aggregators (DeFiLlama, mempool.space) at build time — independent of what any outlet reported. Sector totals aggregate every protocol DeFiLlama tracks in that category. Values are live and will change.
DRW and Marex Complete First Onchain OTC Swap Using Tokenize — questions & answers
What is the significance of this OTC swap?
It demonstrates the viability of using blockchain for traditional financial instruments, potentially increasing transparency and efficiency in OTC markets.
Which index was used in the swap?
The swap referenced the S&P DJI iBoxx USD Liquid Investment Grade Index, tokenized by Kaiko.
What platform was used for the transaction?
The transaction was executed on the Canton Network via Derivnex, utilizing smart contracts for synchronized records.
How much is 1 Canton worth in naira today?
About ₦178.02 at the live peer-to-peer (P2P) USDT rate, which is what Nigerians typically trade at — equivalent to roughly $0.1302. The naira price moves with both CC's US-dollar price and the USDT/NGN rate; use our Canton in naira page for any amount.
Has Canton's price moved since this brief was published?
CC is up 0.89% since this brief first published — trading at $0.1302 now versus $0.129 at publication. TLT re-checks this figure against CoinGecko and Binance every 15 minutes.
Which outlets reported this story?
This is an original TLT brief that synthesises reporting from Crypto Economy, The Block, with the key figures cross-checked for agreement across them. It is not a copy of any one article — follow the source links above for the original reporting.
Original summary — not financial advice. This is an original TLT brief that summarises a development reported elsewhere and adds live market data for context; it is not the original article and reproduces no part of it. Follow the source link above for full details. Crypto is volatile and high-risk — always do your own research.