Wall Street’s $359 billion-a-day repo market finds blockchain use in borrowing

Wall Street institutions are using blockchain to facilitate borrowing in the $359 billion-a-day repo market, typically when they hold government bonds but lack cash for a payment due. The use case is unglamorous but shows blockchain gaining traction in traditional finance plumbing rather than in memecoins or replacing banks. Traders may read it as incremental institutional adoption, though it does not directly involve any crypto asset.