[BNY Mellon and Citadel Securities Complete Tokenized U.S. Treasury Tri-Party Repo Transaction] According to an official press release from BNY Mellon (BNY), BNY and Citadel Securities have completed a tri-party repo transaction process using tokenized U.S. Treasury securities, marking the first use of tokenized assets on a major tri-party repo platform. Citadel Securities purchased a 2-year U.S. Treasury bond via BNY on the Tradeweb platform, with the tokenized representation of the bond recorded on BNY's private digital ledger. Settlement was completed within minutes, rather than the standard T+1 settlement cycle. Subsequently, Citadel Securities used the bond as collateral for overnight tri-party repo financing, with cash provided by BNY. BNY stated that it plans to introduce more digital cash and tokenized deposit functionalities to support on-chain settlement and financing, and expects to extend the operating hours of its traditional settlement platform to cover European and Asian trading sessions next year.