The custody bank is targeting a 2027 rollout for 24/7 settlement of tokenized U.S. Treasuries for institutional clients, though key details including network design and access remain unclear.
BNY Mellon is planning a 2027 launch for a 24/7 tokenized U.S. Treasury bond settlement service aimed at institutional clients, extending its broader push into digital-asset infrastructure. The proposed service would enable around-the-clock settlement of tokenized Treasuries, allowing final transfer of the asset and payment outside traditional market hours and business days. Tokenized U.S. Treasuries are digital representations of government debt recorded on blockchain or distributed-ledger systems and are seen as a key real-world asset category because they are widely used as collateral and as a benchmark safe-yield instrument. The initiative remains a plan rather than a live product, and the available information does not confirm which network, jurisdiction, client set, or settlement mechanics the service will use. The move follows BNY Mellon’s earlier work on tokenized products, including tokenized deposits, and points to continued institutional interest in always-on market infrastructure as tokenized real-world asset markets develop.