UK-based digital asset platform Archax has integrated Chainlink Data Streams to supply pricing data for $GOVY, a tokenised perpetual US Treasury product. The integration is intended to enable the asset to be used in onchain lending, collateral, and treasury-management applications for banks, asset managers, and decentralised finance (DeFi) users. It also extends the distribution of $GOVY across Ethereum, Hedera, Stellar, and other networks.
Archax operates as a digital asset platform regulated by the UK’s Financial Conduct Authority (FCA). Chainlink provides oracle infrastructure that delivers external data to blockchain-based applications.
How $GOVY is structured
$GOVY gives eligible investors direct, legally enforceable exposure to short-dated US Treasury Bills, held on a 1:1 basis in regulated custody. When a T-Bill matures, it is automatically replaced with an equivalent short-dated security. Holders therefore keep continuous Treasury exposure without having to manage maturities or reinvestment manually. The product is designed to align with high-quality liquid asset (HQLA) principles.
Archax presents $GOVY as an alternative to Treasury exchange-traded funds (ETFs) for institutions working in markets that do not close. Transfers are restricted to eligible, whitelisted wallets, and holders can choose to take delivery of the underlying tokenised T-Bills. Subscription and redemption are available 24/7/365 using supported stablecoins. Archax provides regulated custody, while Northern Trust holds the underlying securities.
Pricing data as a condition for collateral use
According to the companies, bringing a regulated asset onchain is only the first step. For $GOVY to be used in automated lending, trading, or collateral management, institutions also need reliable data to value the asset and manage risk.
Chainlink Data Streams is intended to fill that requirement. With current pricing available, $GOVY can support secured lending and credit markets instead of remaining a passive holding. In addition, applications can use the valuations to calculate borrowing capacity and loan-to-value ratios. Institutions can also build automated workflows that monitor positions, rebalance collateral, or react to predefined risk thresholds.
The pricing data is also designed to inform margin requirements and collateral eligibility across approved onchain markets. At the same time, it allows $GOVY to be included in automated cash, liquidity, and yield-management strategies that run outside conventional market hours.
Implications for institutional onchain markets
The integration shifts the focus from issuing a tokenised asset to making it usable within financial workflows. Nick Donovan, Chief Revenue Officer at Archax, said institutions need more than a digital representation of an asset. They also need regulated custody, clear legal rights, and dependable market data before banks and DeFi protocols can integrate such products at scale.
Johann Eid, Chief Business Officer at Chainlink Labs, described the combination of Chainlink’s data infrastructure and Archax’s 1:1 custody model as a way to make $GOVY usable across onchain protocols as verifiable, yield-bearing collateral.
For institutions, the arrangement brings together three elements: a regulated custody structure, automatic rollover of Treasury exposure, and continuous pricing data. Together, these are intended to let tokenised Treasuries work as collateral in markets that operate around the clock, across both institutional and DeFi environments.
