BNY completes first tokenized-asset triparty repo trade with Citadel Securities

BNY said it completed a first-of-its-kind transaction using tokenized assets on a major triparty repo platform, working with Citadel Securities. A two-year U.S. Treasury note was tokenized on BNY's private digital ledger, settled within minutes, and used as collateral in an overnight triparty repo. BNY framed the trade as showing traditional and digital infrastructure can work together to improve settlement speed and collateral mobility. A BNY Institute paper describes a dual-track vision extending settlement beyond historic hours and adding programmable digital rails for a 24/7 market.

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