24/7 financial rails: How BNY plans to eliminate the weekend lag in U.S. Treasuries

Finance 24/7 financial rails: How BNY plans to eliminate the weekend lag in U.S. Treasuries The bank will begin testing tokenized Treasuries on a private blockchain by year-end and expand its settlement network to cover more international trading hours. By Francisco Rodrigues | Edited by Jamie Crawley Jul 23, 2026, 8:42 a.m. 1 min read Make preferred on Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email Make preferred on BNY Mellon office (Vidar Nordli-Mathisen/Unsplash) Summary Show BNY plans to enable 24/7 settlement for conventional and tokenized U.S. Treasuries by 2027, following a successful after-hours test with stablecoin issuers. The bank will begin testing tokenized Treasuries on a private blockchain by year-end and expand its settlement network to cover more international trading hours. The test used stablecoin reserves from Ripple (RLUSD) and OpenEden (USDO), demonstrating that Treasury activity can continue after U.S. market hours close. BNY, the world’s largest custody bank, plans to support round-the-clock settlement of conventional and tokenized U.S. Treasuries in 2027, after completing an after-hours trade involving the reserves of 2 stablecoin issuers. The bank will test tokenized Treasuries on a private blockchain by the end of the year and will extend its existing settlement network later this year to cover more of the Asian, European and U.S. trading days, according to a letter sent to clients reported by Bloomberg . The earlier transaction involved Ripple’s RLUSD and OpenEden’s USDO with Ripple participating directly, while BNY’s cash-management business unit Dreyfus acted for OpenEden. Tradeweb handled the trade after Fedwire Securities had stopped processing secondary-market Treasury transfers for the day, according to the report. BNY said the transaction settled shortly afterward through existing cash rails. The securities were not tokenized, but the test instead showed that Treasury activity tied to stablecoin reserves could continue after the main U.S. settlement window closed. RLUSD and USDO hold short-dated government debt as reserve assets. The tokens trade continuously, but the Treasuries behind them remain tied to weekday settlement windows. That can delay reserve adjustments following large creations, redemptions or collateral calls. BNY is already the primary custodian for RLUSD’s reserves and provides custody and investment management for OpenEden’s tokenized Treasury fund. The bank introduced tokenized deposit balances in January , giving institutional clients an on-chain representation of commercial-bank money. banks Tokenization Latest Crypto News 1 South Korea's oldest crypto exchange is now part of the $1 trillion Mirae Group family 1 hour ago 2 Bitcoin, Ethereum-linked protocols lose $35 million in multiple attacks hours apart 2 hours ago 3 Arbitrum-based AFX Trade drained of $24 million after bridge keys compromised 3 hours ago 4 XRP whales accumulate as small holders capitulate 4 hours ago 5 Bitcoin wilts as oil and rates rise. Clarity Act odds tumble to 38% 4 hours ago 6 Senator Lummis: Ethics, other provisions in crypto Clarity Act to be further discussed 9 hours ago 7 Key Democratic lawmakers say crypto Clarity Act 'falls short' on ethics, other issues 10 hours ago 8 Tesla holds bitcoin treasury steady, reports $112M impairment loss 12 hours ago 9 New draft of Clarity Act is out, and it would impose limits on Trump's crypto empire 16 hours ago 10 Revolut hits $115 billion valuation in employee share sale: WSJ 16 hours ago Latest Research Crypto Flows, Share and the Selective Rotation Crypto Flows, Share and the Selective Rotation Markets repositioned since June, but Binance held share (~55% user funds, ~24% spot) and drew net inflows in early July while the tracked market saw outflows. By CoinDesk Research 18 hours ago Markets repositioned since June, but Binance held share (~55% user funds, ~24% spot) and drew net inflows in early July while the tracked market saw outflows. Why it matters : Markets repositioned since June, but Binance held share (~55% user funds, ~24% spot) and drew net inflows in early July while the tracked market saw outflows. View Full Report More From Finance Revolut hits $115 billion valuation in employee share sale: WSJ UK digital bond plans hinge on one missing piece: onchain cash Midnight token rebounds 19% after Wanchain bridge hack, Hoskinson calls for ZK revamp