BNY and Citadel Securities executed an overnight triparty repo using a tokenized two-year U.S. Treasury note. Citadel bought the note via Tradeweb, BNY recorded it on a private ledger, and it was pledged as collateral within minutes.
• BNY plans to extend the settlement infrastructure to European and Asian trading hours in the coming year
This is a concrete institutional use case for tokenized securities and shows blockchain rails getting tested in traditional repo markets.