Bank of New York Mellon and Citadel Securities completed the three-way repurchase transaction of token US treasury bond bonds

Bank of New York Mellon and Citadel Securities completed a three-way repo transaction using token US treasury bond bonds, which is the first time that token assets are used in major three-way repo platforms. Citadel Securities purchased two-year US treasury bond through Bank of New York Mellon on the Tradeweb platform. The token representation of the treasury bond was recorded on the private digital ledger of Bank of New York Mellon, and the settlement was completed within minutes. Castle Securities will use the asset as collateral for overnight third-party repurchase financing, with cash provided by Bank of New York Mellon. Bank of New York Mellon plans to launch more digital cash and tokenized deposit functions, and expects to extend the operation of traditional settlement platforms to European and Asian trading hours next year. (Source: Bank of New York Mellon)