Bank of New York Mellon and Citadel Securities Complete Tokenized U.S. Treasury Triparty Repo Transaction

PANews October 14 news, according to BNY's official press release, BNY and Citadel Securities completed a triparty repo transaction process using tokenized U.S. Treasuries, marking the first time tokenized assets have been used on a major triparty repo platform. Citadel Securities purchased a 2-year U.S. 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 rather than the standard T+1 settlement cycle; Citadel Securities then 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 its traditional settlement platform to European and Asian trading sessions next year.