POPA ReconBNY & Citadel Run First Tokenized Treasury Repo
BNY & Citadel Run First Tokenized Treasury Repo BNY and Citadel tested tokenized Treasuries in a live repo trade. Citadel Securities bought a 2-year Treasury note, and its token settled on BNY's private ledger in minutes, not T+1. Citadel then used the tokenized note as collateral in an overnight triparty repo, with BNY lending cash against it. BNY calls it the first use of tokenized assets on a major triparty repo platform. The bank oversees $62.6T in assets under custody and administration. Next, BNY plans tokenized deposits for onchain settlement and longer settlement hours, reaching Eur…
The excerpt is quoted from a public Telegram channel, which owns its text.