BNY and Citadel Securities complete first tokenized Treasury repo transaction
BNY (formerly Bank of New York Mellon) and Citadel Securities completed a triparty repurchase agreement using a tokenized U.S. Treasury security as collateral, marking the first time tokenized assets have been used on a major triparty repo platform. The two-year note settled within minutes on BNY's private digital ledger before being used to raise cash in overnight financing.
