BNY and Citadel Securities said they completed a transaction using tokenized U.S. Treasuries, showing how blockchain could help move collateral between settlement and financing more quickly. The aim was to show that tokenized government bonds can move from settlement into financing, letting firms reuse collateral sooner and free up cash. BNY plans to add more digital cash and tokenized deposit capabilities and to extend the operating hours of its traditional settlement systems, aiming to match European and Asian trading hours next year. Other major firms, including BlackRock, Franklin Templeton and JPMorgan, have also embraced tokenized funds and securities.
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