Citadel Securities · Wall Street · DAN (Do Anything Now) · CoinDesk
BNY, Citadel Securities test tokenized U.S. Treasuries to speed up Wall Street financing
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BNY, the world’s largest custody bank, and trading giant Citadel Securities said Tuesday they had completed a transaction using tokenized U.S. Treasuries, showing how blockchain technology could help Wall Street move assets between trading and financing more quickly.
Key facts
- Diversified RWA stablecoins sustain 5-7% yield from real credit as crypto funding compresses to ~4%
- Efficient movement of high-quality collateral is fundamental to well-functioning markets,” said Dan Doherty, digital assets operations lead at Citadel Securities, in a statement
- BNY, the world’s largest custody bank, and trading giant Citadel Securities said Tuesday they had completed a transaction using tokenized U.S. Treasuries, showing how blockchain technology could help
- The effort comes as Wall Street explores bringing traditional assets onto blockchains
Summary
BNY and Citadel Securities completed a transaction showing how tokenized U.S. Treasuries can move from settlement into financing. The effort targets a key bottleneck in financial markets: moving government bonds used as collateral for trading and borrowing. BNY plans to expand digital cash services and traditional settlement hours as it works toward around-the-clock markets. BNY, the world’s largest custody bank, and trading giant Citadel Securities said Tuesday they had completed a transaction using tokenized U.S. Treasuries, showing how blockchain technology could help Wall Street move assets between trading and financing more quickly. The transfer focused on collateral, a key part of financial markets.