BNY Mellon plans to introduce tokenized U.S. Treasuries

BNY Mellon plans to introduce tokenized U.S. Treasuries on its private blockchain and conduct pilot trading by the end of this year, Bloomberg reported. The bank is also working to build market infrastructure for 24-hour settlement of U.S. Treasuries. It has set a goal of supporting 24-hour settlement services for both conventional Treasuries and Treasury tokens in 2027.