BNY and Citadel Securities Complete Tokenized Treasury Repo on Major Collateral Platform

BNY said on October 13 that it had completed a triparty repo workflow with Citadel Securities using a tokenized representation of a U.S. Treasury, a transaction it described as the first reported use of tokenized assets on a major triparty repo platform. The workflow took the security from purchase and settlement into overnight financing, with BNY supplying the cash. The transaction puts a tokenized Treasury into an established segment of short-term funding markets rather than treating the digital representation as a standalone asset.

Source: Crypto Daily