BNY and Citadel Run a Tokenized Treasury Through Repo
BNY and Citadel Securities ran a tokenized US Treasury through a full triparty repo workflow. Citadel bought a 2-year note, a token version was recorded on BNY's private ledger, and it settled in minutes instead of a day. Then it was used as collateral for an overnight loan. It's the first time tokenized assets have been used on a major triparty repo platform.
Tokenized Treasuries are leaving the pilot stage. Who's next?
#Tokenization #RWA #TradFi
Source: BNY press release
BNY and Citadel Securities ran a tokenized US Treasury through a full triparty repo workflow. Citadel bought a 2-year note, a token version was recorded on BNY's private ledger, and it settled in minutes instead of a day. Then it was used as collateral for an overnight loan. It's the first time tokenized assets have been used on a major triparty repo platform.
Tokenized Treasuries are leaving the pilot stage. Who's next?
#Tokenization #RWA #TradFi
Source: BNY press release