BNY Mellon is preparing to support around-the-clock settlement for U.S. Treasuries as digital-asset activity pushes against the limits of traditional financial market infrastructure, according to Bloomberg. In a client letter, the bank said it had already facilitated after-hours Treasury trades involving stablecoin issuers earlier this year, after the Federal Reserve’s Fedwire Securities Service had closed. Those trades involved Ripple, the issuer linked to the RLUSD stablecoin, and OpenEden, the issuer of the USDO stablecoin, both of which are backed by short-term U.S. Treasuries. The bank said it plans to launch tokenized U.S. Treasuries by the end of 2026 and test transactions on its private blockchain. Its stated goal is to enable 24/7 settlement for both conventional and tokenized Treasuries in 2027. BNY said the transaction showed that Treasury-market activity tied to the digital-asset ecosystem can continue beyond traditional market cut-off times.
BNY Mellon is preparing to offer round-the-clock settlement for U.S. Treasuries as growth in digital assets puts pressure on traditional financial infrastructure, Bloomberg reported.
In a letter to clients, the bank said it had facilitated after-hours U.S. Treasury trades involving stablecoin issuers earlier this year. It also said it plans to launch tokenized U.S. Treasuries by the end of 2026 and run pilot transactions on its private blockchain, with a goal of enabling 24/7 settlement for both conventional and tokenized Treasuries in 2027.
According to the report, the earlier after-hours Treasury trade took place after the Federal Reserve’s Fedwire Securities Service had closed. It involved Ripple, the issuer tied to the RLUSD stablecoin, and OpenEden, the issuer of the USDO stablecoin. Both stablecoins are backed by short-term U.S. Treasuries.
BNY said the transaction “demonstrated that Treasury market activity associated with the digital asset ecosystem can continue after traditional cutoff times.”
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