[PRESS RELEASE – Zug, Switzerland, December 23rd, 2025]
Solstice Labs, Cor Prime, and Membrane Labs have joined forces to complete a big milestone. They have successfully made the first institutional stablecoin-for-stablecoin repurchase agreement, or ‘repo’, using blockchain technology.
A repo is a financial deal where one party sells an asset, like money or securities, and agrees to buy it back later at a set price. In this deal, the transaction was finalized on public blockchains, making it unique and standardized for stablecoin markets. Stablecoins are digital cryptocurrencies that aim to keep their value steady by being tied to traditional currencies or reserves (read more here).
This repo deal was organized using special legal documents called a Global Master Repurchase Agreement (GMRA) and a Digital Asset Annex. These documents make everything safe, structured, and compliant with legal rules. The actual money transfer took place between secure digital wallets on two blockchain platforms: Solana and Ethereum. Membrane Labs provided the system to handle settlement and keep track of the transaction, ensuring assets moved securely and completely.
For the first time ever, this repo used a stablecoin as the main asset in the deal, instead of traditional financial products. Solstice Labs contributed its own stablecoin called USX, while Cor Prime provided USDC, another popular stablecoin. The deal involves unwinding—that means they’ll reverse the transaction at the agreed repo rate when the deal matures.
What makes this different from other blockchain-based lending systems is that it mimics financial tools used in traditional markets instead of automated systems. It creates a new structured way to borrow or lend stablecoins without selling off reserves.
Why Is This Important?
Stablecoins come in many forms and aren’t all equally popular or used by institutions. Until now, their creators and users didn’t have tools to manage liquidity or short-term funding efficiently. They relied on collateralized loans or automated digital pools that didn’t fully match the professional standards of big financial industries. This repo opens new doors for stablecoin trading, borrowing, and lending.
This innovation makes it easier for creators of stablecoins like USX from Solstice Labs to handle their finances. It also helps them maintain the stable value—or ‘peg’—of their stablecoins. Institutions can now earn safer returns using strategies already familiar to them from the traditional finance world.
David Plisek, COO of Solstice, said, “This repo shows that stablecoins can use the same financial tools as traditional markets. For USX, it helps maintain a stable value and gives our protocol ways to earn safer yields.”
A New Direction for Blockchain Credit Markets
This repo deal wouldn’t have been possible without Membrane Labs’ credit infrastructure. They are specialists in providing tools to make loans, repos, and market transactions happen efficiently and securely. Using blockchain technology, Membrane ensures that deals like this are fast and final, unlike the slower methods of traditional financial systems. You can learn more about Membrane Labs here.
Carson Cook, Membrane’s CEO, explained, “This is the first step toward creating a full-scale stablecoin repo market on blockchains. Now, stablecoins can move in a clear, structured way that’s backed by legal certainty and operational discipline.”
On the other hand, Cor Prime provided the necessary stablecoin liquidity to make the repo work. They also acted as the Over the Counter (OTC) counterparty for this transaction. In simpler terms, they were responsible for ensuring this cross-chain deal was safe, practical, and properly balanced.
Tim Bevan, CEO of Cor Prime, said, “Integrating off-chain liquidity with blockchain markets enhances the entire system. It helps move money where it’s needed quickly and efficiently.” Find out more about Cor Prime here.
Building a Base for Stablecoin Financing
This successful repo sets up a foundation for a stablecoin funding market that works across blockchains. It creates a guideline to help stablecoin issuers manage liquidity better. Market makers—those who provide buying and selling opportunities—can now access new options for financing stablecoins that align with professional market standards.
It’s also a great opportunity for investors who want to earn returns using repo-style methods backed by digital assets. Stablecoins are now entering the next phase of their evolution, built on concepts from traditional liquidity mechanisms used around the world.
The repo structure could eventually pave the way for a standardized funding curve for stablecoins. This means creating more predictable and practical ways for stablecoins to borrow and lend liquidity, improving the digital asset ecosystem significantly.
About Solstice Labs
Solstice Labs focuses on improving asset management in the blockchain era. Their key product is USX, a stablecoin built on the Solana blockchain. Another major offering is their YieldVault program, which allows investors to earn high-quality returns on their money. Solstice Labs also provides staking services, which involve supporting blockchain networks by participating with assets, securing over $1 billion so far. You can learn more here.
About Membrane Labs
Membrane Labs creates credit infrastructure for institutions working with digital assets. Their technology helps companies complete loans, repos, and collateral-related deals confidently and legally. Learn more here.
About Cor Prime
Cor Prime operates as a credit platform that uses safe laws and processes for funding digital assets. They focus on capital preservation and risk control to give investors safer options for earning returns in digital markets. Learn more here.