Bank of New York Mellon plans to support 24/7 U.S. Treasury settlement by 2027, with a tokenization pilot launching by the end of this year
ChainCatcher News, according to Bloomberg, BNY Mellon is preparing to offer round-the-clock settlement for U.S. Treasuries to respond to the impact of digital asset market growth on traditional financial infrastructure. In a letter to clients, the bank stated that earlier this year, it had facilitated after-hours U.S. Treasury trades involving stablecoin issuers. It plans to launch tokenized U.S. Treasuries and conduct pilot trades on its private blockchain by the end of 2026, with the goal of achieving 24/7 settlement for both traditional and tokenized U.S. Treasuries by 2027.
Earlier this year, the bank had already facilitated after-hours Treasury trades involving stablecoin issuers—after the closing of the Federal Reserve's Fedwire Securities Service—which included RLUSD stablecoin issuer Ripple and USDO stablecoin issuer OpenEden, both stablecoins backed by short-term U.S. Treasuries. BNY stated that this transaction "demonstrated that Treasury market activity related to the digital asset ecosystem can continue beyond traditional cut-off times."
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