BNY and Citadel Securities Complete Tokenized Treasury Repo on Major Collateral Platform

BNY said on October 13 that it had completed a triparty repo workflow with Citadel Securities using a tokenized representation of a U.S. Treasury, a transaction it described as the first reported use of tokenized assets on a major triparty repo platform. The workflow took the security from purchase and settlement into overnight financing, with BNY supplying the cash. BNY and Citadel Securities complete tokenized Treasury triparty repo The transaction puts a tokenized Treasury into an established segment of short-term funding markets rather than treating the digital representation as a standalone asset. In a triparty repo, collateral is held and administered by a third-party bank while one party obtains cash financing against the securities.

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