Tokenized US Treasuries Used for First Time on Major Triparty Repo Platform, BNY and Citadel Securities Complete Transaction

Odaily News: Bank of New York Mellon (BNY) and Citadel Securities completed a triparty repo transaction using tokenized US Treasuries. Citadel Securities purchased a 2-year US Treasury through BNY on the Tradeweb platform, with the tokenized representation of the Treasury recorded on BNY's private digital ledger and settled within minutes; subsequently, Citadel Securities used it as collateral for overnight triparty repo financing, with BNY providing cash. BNY stated that it plans to launch more digital cash and tokenized deposit features to support on-chain settlement and financing, and expects to extend the operating hours of traditional settlement platforms to European and Asian trading sessions next year.