A rookie’s guide to tokenized Treasuries
What are DTCC’s digital US government debt securities? How do tokenized repo and other transactions work? These questions, and others, answered.
This article, the first in three-part series on tokenized US Treasuries, explains the mechanics of the instruments.
Every day, thousands of companies use US Treasury bonds and notes to pledge collateral, borrow in the repo market and post margin to a central counterparty.
On July 15, a group including Goldman Sachs and Citadel Securities did just that—but with a twist. The Treasuries were digital tokens.
The exercise, hosted by the Depository Trust & Clearing Corporation, saw dealers perform a
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