On the 13th, U.S. financial giant BNY announced that it had completed a series of procedures for a short-term funding transaction (tri-party repo) using tokenized U.S. Treasuries as collateral with brokerage firm Citadel Securities. This is reportedly the first time tokenized assets have been used on a major tri-party repo platform.
The backdrop of this transaction is the market participants' demand for faster and more efficient means of moving collateral. The Global Head of BNY's Settlement and Collateral Management Division...