TL;DR
- Broadridge processed over $8 trillion in volume during July on its blockchain-based repo platform, with a daily average of $365 billion.
- The recorded volume represents a 28% year-over-year increase, consolidating the DLR platform as a reference infrastructure for institutional financing.
- Galaxy and Kraken adopted the company’s onchain governance platform for shareholder votes and corporate governance participation.
Broadridge Financial Solutions, the fintech headquartered in New York and listed on the New York Stock Exchange, processed over $8 trillion in volume during the month of July through its Distributed Ledger Repo (DLR) platform. According to a press release, the system recorded an average of $365 billion per day, representing a 28% increase compared to the same period the previous year.
The platform allows institutions to settle repo transactions —repurchase agreements— on blockchain technology, without abandoning their existing trading and post-trade operational environments. The mechanism facilitates real-time financing and the movement of tokenized collateral between counterparties, improving liquidity management and operational efficiency.
“Tokenization is increasingly becoming part of how institutions optimize liquidity and collateral management,” said Horacio Barakat, Broadridge’s global head of digital innovation. “DLR continues to demonstrate that distributed ledger infrastructure can support the scale, reliability and interoperability demanded by core financing activity.”
Onchain Governance: Broadridge Expands Its Blockchain Ecosystem
Beyond DLR, the firm also employs blockchain technology to offer onchain proxy voting and corporate governance services, as well as managing digital asset infrastructure in post-trade, wallet and custody areas.
In May, Galaxy used Broadridge’s onchain governance platform for its annual meeting and shareholder vote. Payward, the parent company of Kraken, announced in turn that it allows tokenized shareholders to participate in corporate governance in collaboration with the same platform.
Broadridge shares closed Monday with a gain of 4.14% on the New York Stock Exchange, at $173.4 per share.
