BNY and Citadel Securities Use Tokenized Treasury in Overnight Repo
- —Two-year US Treasury note settled in minutes on BNY's private ledger
- —Citadel Securities used the note to raise cash in overnight repo
- —Trade bypassed traditional clearing infrastructure
Why it matters: Wall Street heavyweights testing tokenized Treasuries in repo could accelerate the shift of TradFi settlement onto blockchain rails.
Source: The Defiant