Broadridge Financial Solutions' blockchain-based repurchase agreement platform processed approximately $8 trillion in transactions during July, underscoring the expanding role of distributed ledger technology in institutional financing and collateral management.

The Distributed Ledger Repo platform, commonly referred to as DLR, recorded average daily volume of $365 billion in July — a 28% increase from the same month a year earlier. The platform allows financial institutions to settle repurchase agreements and transfer tokenized collateral via distributed ledger infrastructure while maintaining connectivity to their existing trading and post-trade systems.

Repo markets are a cornerstone of short-term institutional funding, in which one party sells securities with an agreement to repurchase them at a later date. The U.S. tri-party repo market alone regularly processes over $2 trillion per day, according to Federal Reserve Bank of New York data, placing DLR's volumes within the context of a market that serves as a critical source of liquidity for banks, hedge funds, and money market participants. DLR enables the collateral in these transactions to be tokenized and moved between counterparties, while the financing side of each trade is recorded and processed onchain. Broadridge has said the infrastructure is built to support real-time financing and collateral transfers, helping firms manage liquidity and capital without having to abandon established market workflows. The platform also offers automated repo processing, collateral optimization, and reduced reconciliation burdens — features that align with regulatory pressures under frameworks such as Basel III, which have increased demands on institutions to manage collateral more efficiently and maintain adequate intraday liquidity buffers.

Sustained Transaction Volumes Throughout 2026

July continued a pattern of robust activity that has persisted across 2026. In January, DLR posted average daily volume of $365 billion, generating $7.3 trillion in monthly transactions. That January daily figure represented a 508% year-over-year increase.

Activity remained elevated in subsequent months. March saw average daily volume of $354 billion, with monthly transactions approaching $8 trillion. In April, average daily volume reached $368 billion, and monthly activity again neared the $8 trillion threshold. May produced approximately $7.2 trillion in processed transactions at an average daily volume of $362 billion, followed by roughly $7.5 trillion in June at an average daily volume of $357 billion.

Also in July, Broadridge made DLR market data accessible to Bloomberg Terminal subscribers, broadening the availability of trading information generated by the platform. The integration gives market participants greater visibility into onchain repo activity alongside traditional fixed-income data, potentially improving price discovery in a segment of the market that has historically lacked transparent benchmarking.

Broadridge executives have highlighted tokenization as a growing tool for institutional liquidity and collateral management. The company has also explored intraday applications for DLR: research conducted with Finadium suggested that directing 15% of eligible activity through the platform could reduce intraday liquidity buffer requirements by 8% to 17%.

DLR Infrastructure Extends Into Securities, Governance, and Digital Assets

Beyond repo, Broadridge is extending its distributed ledger capabilities into multiple areas of financial market infrastructure, including tokenized securities, shareholder voting, and digital asset post-trade services. The expansion is notable given Broadridge's existing footprint: the company processes proxy voting for a substantial share of North American public companies and mutual funds, making its move into blockchain-based governance a natural extension of a franchise that already connects issuers, intermediaries, and investors.

The company partnered with Ondo Finance to build governance infrastructure for holders of more than 250 tokenized stocks and exchange-traded funds. Under the arrangement, investors can submit voting preferences tied to the underlying securities, and Broadridge provides access to relevant corporate and regulatory disclosures. Voting preferences can be weighted based on the quantity of tokenized securities an investor holds. With authorization from Ondo Global Markets, those preferences can also be combined with votes cast through traditional financial market channels.

Broadridge's blockchain governance infrastructure has been deployed in additional corporate voting initiatives. Galaxy Digital utilized the company's onchain governance system for its annual shareholder meeting. Separately, Payward — the parent company of Kraken — announced plans to adopt Broadridge technology to give holders of tokenized shares corporate governance capabilities.

Broadridge is leveraging the infrastructure originally developed for DLR as a foundation for tokenized securities, with the potential to support issuance, trading, settlement, and servicing alongside traditional financial assets.

Broader Industry Shift Toward Onchain Financial Infrastructure

The rising DLR volumes coincide with a wider push by financial institutions and market infrastructure providers into blockchain-based settlement and securities processing.

The Depository Trust & Clearing Corporation (DTCC) began limited production activity for its tokenization service in July, engaging more than 50 financial firms. The initiative encompasses Russell 1000 equities, major index ETFs, and U.S. Treasuries, with a broader rollout planned for October. DTCC's involvement is particularly significant given its role as the central securities depository and clearinghouse for virtually all U.S. equity, corporate bond, and government securities trades, positioning tokenization within the core plumbing of American capital markets.

In Europe, Boerse Stuttgart has expanded its Seturion network to include Societe Generale, SG-FORGE, and the online broker flatexDEGIRO. The system is designed to support tokenized securities across public and private blockchains using both onchain money and central bank money.

Institutional repo activity has also been tested on other blockchain networks. Earlier in 2026, DTCC, Euroclear, Tradeweb, Citadel Securities, and Societe Generale completed a cross-border intraday repo transaction involving tokenized U.K. government bonds on the Canton Network — a blockchain platform focused on institutional capital markets, developed by Digital Asset using its DAML smart-contract language, and one in which Broadridge is actively involved.

Broadridge's expanding work across repo, securities, governance, and digital asset infrastructure reflects a broader industry movement to integrate blockchain technology with established financial market systems. The sustained scale of DLR activity suggests that distributed ledger technology is advancing beyond experimental pilots into high-volume institutional financial operations, particularly in repo settlement and collateral management. With DTCC's broader tokenization rollout scheduled for October and additional cross-border pilots underway, the coming months are likely to provide further signals about whether onchain infrastructure can capture meaningful share across other segments of capital markets processing.