According to CoinMeta, Bank of New York Mellon and Castle Securities completed a tripartite repurchase transaction using tokenized U.S. Treasury bonds, marking the first time that tokenized assets have been used on a major tripartite repurchase platform. Castle Securities purchased 2-year U.S. Treasury bonds through Bank of New York Mellon on the tradeweb platform. The tokenization of these bonds was recorded on Bank of New York Mellon’s private digital ledger, and the settlement was completed within minutes. Castle Securities used these assets as collateral for an overnight tripartite repurchase financing, with Bank of New York Mellon providing cash. Bank of New York Mellon plans to introduce more digital cash and tokenized deposit services and expects to extend the operating hours of its traditional settlement platforms to European and Asian trading hours next year.