Tradeweb said it completed an instant blockchain-based exchange of a tokenized U.S. Treasury bond for tokenized cash with Franklin Templeton and Virtu Financial, adding detail to its push into institutional onchain settlement.
Tradeweb completed an instant blockchain-based transfer of a tokenized U.S. Treasury bond for tokenized cash, with Franklin Templeton and Virtu Financial involved in the transaction. The deal adds detail to Tradeweb’s previously noted onchain U.S. Treasury activity on Canton Network and highlights how blockchain infrastructure is being applied to institutional fixed-income settlement. Instant delivery-versus-payment style exchanges can reduce post-trade friction, speed settlement, and make high-quality collateral easier to move across counterparties. For traditional markets, those efficiencies could improve liquidity and capital usage as firms test tokenized versions of cash and government bonds in core market workflows.