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BNY and Citadel Securities complete tokenised Treasury collateral trade

BNY and Citadel Securities said they completed a transaction using tokenised US Treasuries, showing how blockchain could speed collateral movement between settlement and financing.

Why it matters: The transaction shows how tokenised Treasuries could let trading firms reuse collateral sooner, a step toward round-the-clock markets as Wall Street moves traditional assets onto blockchains.

InvestIn.News NewsDesk · 1 min read
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Original reporting: Krisztian Sandor, CoinDesk

Key points

  • BNY and Citadel Securities completed a transaction using tokenised US Treasuries, CoinDesk reports.
  • BNY plans to extend settlement hours for Federal Reserve-eligible securities and US triparty transactions, targeting European and Asian trading hours next year.
  • BlackRock, Franklin Templeton and JPMorgan have already embraced tokenised funds and securities.

BNY and Citadel Securities have completed a transaction using tokenised US Treasuries, a tokenised Treasury collateral trade that CoinDesk reports shows how blockchain-based government bonds could move faster between settlement and financing. BNY, described as the world's largest custody bank, and trading firm Citadel Securities said the transaction was completed on Tuesday.

The aim was to show tokenised government bonds moving from settlement into financing, so firms could reuse collateral sooner.

Carolyn Weinberg, BNY's chief innovation and market transformation officer, said using a tokenised representation of a US Treasury across settlement and financing enables a more connected and always-on financial system.

What to watch: BNY aims to extend its traditional settlement hours for Federal Reserve-eligible securities and US triparty transactions to European and Asian trading hours next year.

Read the full story on CoinDesk

Live updates on NewsFeeds:AltcoinsDesk editor: Keshav Aggarwal (accountable for this page; this summary was not edited by hand)

How this was produced: an AI model wrote this summary of CoinDesk’s report, which we credit and link above. Read our Editorial and AI policy. Spotted a mistake? See Corrections.

Not investment advice. Read the risk disclaimer.

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