The International Swaps and Derivatives Association (ISDA) has updated an annex to its master derivatives agreement to support the use of tokenized collateral.
This step is important for the adoption of tokenization because of the massive size of the derivatives markets. The notional value of global derivatives is more than $700 trillion, although the gross market value is around $20 trillion.
Typically derivatives agreements require the parties to post margin, which can vary over time.
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