BNY Mellon and Castle Securities Complete Tokenized U.S. Treasury Repo Transaction

BNY Mellon and Castle Securities have completed a tri-party repurchase transaction using tokenized U.S. Treasury bonds. Castle Securities purchased a 2-year U.S. Treasury bond through BNY on the Tradeweb platform, with the tokenized representation recorded on BNY's private digital ledger, and settlement completed within minutes. Subsequently, Castle Securities used it as collateral for overnight tri-party repo financing, with cash provided by BNY. BNY stated that it plans to launch more digital cash and tokenized deposit features to support on-chain settlement and financing, and expects to extend the operating hours of its traditional settlement platform to European and Asian trading sessions next year.

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