BNY Mellon Plans to Advance 24/7 US Treasury Settlement, Tokenized Products to Be Piloted as Early as the End of This Year
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BNY Mellon Plans to Advance 24/7 US Treasury Settlement, Tokenized Products to Be Piloted as Early as the End of This Year
According to Bloomberg, The Bank of New York Mellon is building infrastructure for 24/7 settlement of U.S. Treasuries to adapt to the impact of the digital asset market's development on the traditional financial system. The bank said it facilitated an after-hours Treasury transaction involving a stablecoin issuer earlier this year.
Navigating Web3 tides with focused insightsTechFlow News, July 23. According to Bloomberg, the Bank of New York Mellon is building infrastructure for 24/7 U.S. Treasury settlement to adapt to the impact of digital asset market development on the traditional financial system. The bank stated that it facilitated an after-hours Treasury transaction involving stablecoin issuers earlier this year.
According to its plan, the Bank of New York Mellon intends to launch tokenized U.S. Treasuries by the end of 2026 and conduct pilot trading on its private blockchain, while aiming to achieve 24/7 settlement support for both traditional and tokenized U.S. Treasuries by 2027.
