BNY and Citadel Complete Test of Tokenized Treasury Repo
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AI-assisted source synthesis · not an independent investigation.
On October 14, 2026, reports indicated that BNY and Citadel Securities had completed a test of a financing transaction using tokenized U.S. Treasury securities, demonstrating how government bond collateral can move from the settlement stage into the financing stage. The two companies hope to reduce delays in collateral transfers, enabling institutions to reuse assets sooner. BNY also plans to expand its digital cash and tokenized deposit services and, next year, extend the operating hours of its traditional settlement system to cover European and Asian trading sessions. On October 15, follow-up reports said that the two parties had completed the first tri-party repo transaction using tokenized U.S. Treasury collateral on the Tradeweb platform. The tokenized securities were recorded on BNY’s private ledger, and settlement took only a few minutes rather than T+1.
AI-written from reports · updated 4 days ago
Timeline
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- CryptopolitanSelectedBNY completes the first tri-party repo transaction involving tokenized U.S. Treasuries on the Tradeweb platform
BNY and Citadel Securities completed a tri-party repo transaction on the Tradeweb platform using tokenized U.S. Treasury collateral. The tokenized securities were recorded on BNY’s private ledger, reducing settlement time to minutes rather than T+1.
- CoinDeskBNY and Citadel Securities complete test of tokenized U.S. Treasury financing transaction
BNY and Citadel Securities completed a transaction using tokenized U.S. Treasuries, demonstrating how government bond collateral can move from the settlement process into financing. The two companies aim to reduce delays in transferring collateral so institutions can reuse assets sooner; BNY also plans to expand its digital cash and tokenized deposit services, and next year extend the operating hours of traditional settlement systems to cover European and Asian trading sessions.
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