Tradeweb executed an onchain tokenized U.S. Treasury transaction with Franklin Templeton and Virtu Financial over the Canton Network, with the companies saying the trade settled in real time.

According to NS3.AI, the firms did not disclose the transaction size, but a Tradeweb spokesperson described it as the industry’s first real-time purchase and sale of a tokenized U.S. Treasury settled against USDCx.

Separately, RWA.xyz data cited in the report shows tokenized U.S. Treasury products have grown into a $14.6 billion market.