Bank of New York Mellon plans to support 24/7 U.S. Treasury settlement in 2027, with tokenization pilots set to begin by the end of this year

PANews July 23, according to Bloomberg, BNY Mellon is preparing for around-the-clock settlement of US Treasuries to address the impact of growth in the digital asset market on traditional financial infrastructure. In a letter to clients, the bank said it facilitated, earlier this year, post-market US Treasury transactions involving stablecoin issuers, and plans to launch tokenized US Treasuries by the end of 2026 and pilot trading on its permissioned blockchain, targeting 7×24 hour settlement for both traditional and tokenized US Treasuries in 2027.

Earlier this year, the bank facilitated post-market Treasury transactions involving stablecoin issuers—after the close of the Fedwire Securities Service, involving Ripple, the RLUSD stablecoin issuer, and OpenEden, the USDO stablecoin issuer. Both stablecoins are backed by short-term US Treasuries. BNY said the deal “demonstrates that Treasury market activity related to the digital asset ecosystem can continue even after traditional closing times.”