BNY uses tokenized US Treasury in landmark Citadel Securities repo deal

BNY and Citadel Securities have completed a U.S. Treasury financing transaction using a tokenized security as collateral on a major triparty repo platform for the first time. BNY and Citadel Securities completed the first transaction involving tokenized assets on a major triparty repo platform. A 2-year US Treasury note was tokenized on BNY's private ledger and settled within minutes before being used as collateral in an overnight repo. BNY provided cash against the tokenized Treasury, demonstrating how digital securities can move from trade settlement into institutional financing.

Also reported by Crypto Daily, The Defiant, AMBCrypto.

Source: crypto.news