Around $125B is starting to move onto Ethereum.

UBS, Société Générale, and the Banque de France aren’t testing ideas they’re bringing repo markets, the core liquidity layer of global finance, on-chain

The math is straightforward

• Global repo market ≈ $12.5T

• 1% = $125B

• Deployment has begun

This isn’t integration anymore

Ethereum is positioning itself as settlement infrastructure