Tradeweb completes real-time transaction of tokenised US Treasuries
01 July 2026 US
Image: Marco/stock.adobe.com
Tradeweb, an electronic trading firm, has announced the completion of a real-time transaction involving tokenised US Treasuries.
Executed on Tradeweb, the trade paired an onchain US Treasury with tokenised cash (USDCx), while leveraging the Canton Network's synchronised settlement capabilities, says the firm.
Franklin Templeton transferred a tokenised US Treasury security to Virtu Financial in exchange for USDCx.
Tradeweb provided the execution platform and price discovery, while the Canton Network enabled synchronised onchain settlement between the two assets.
Transaction participants included Blockdaemon, Digital Asset, Franklin Templeton, Societe Generale, Tradeweb, and Virtu Financial.
This has reinforced growing institutional momentum behind tokenised real-world assets and demonstrates the liquidity, operational efficiency, and integration required to support real-time trading of tokenised US Treasuries against cash, the organisation adds.
Elisabeth Kirby, head of Market Structure at Tradeweb, says: “This transaction is an important step in demonstrating how Tradeweb’s execution capabilities can support the next generation of digital markets.
“By executing the first real-time onchain US Treasury transaction on Tradeweb, participants were able to move both the security and cash in real time without the timing and settlement constraints that exist in traditional market infrastructure.
“As tokenised assets continue to gain traction, Tradeweb remains committed to providing clients with the connectivity, liquidity, and workflow solutions they need to transact efficiently across evolving market structures.”
Kelly Mathieson, chief business development officer at Digital Asset, adds: “This is another key milestone as we work alongside market participants to build an always-on, interoperable and secure capital markets infrastructure. Unlocking 24/7 market making enhances the utility of assets and propels the evolution of markets toward greater efficiency and accessibility.”
Executed on Tradeweb, the trade paired an onchain US Treasury with tokenised cash (USDCx), while leveraging the Canton Network's synchronised settlement capabilities, says the firm.
Franklin Templeton transferred a tokenised US Treasury security to Virtu Financial in exchange for USDCx.
Tradeweb provided the execution platform and price discovery, while the Canton Network enabled synchronised onchain settlement between the two assets.
Transaction participants included Blockdaemon, Digital Asset, Franklin Templeton, Societe Generale, Tradeweb, and Virtu Financial.
This has reinforced growing institutional momentum behind tokenised real-world assets and demonstrates the liquidity, operational efficiency, and integration required to support real-time trading of tokenised US Treasuries against cash, the organisation adds.
Elisabeth Kirby, head of Market Structure at Tradeweb, says: “This transaction is an important step in demonstrating how Tradeweb’s execution capabilities can support the next generation of digital markets.
“By executing the first real-time onchain US Treasury transaction on Tradeweb, participants were able to move both the security and cash in real time without the timing and settlement constraints that exist in traditional market infrastructure.
“As tokenised assets continue to gain traction, Tradeweb remains committed to providing clients with the connectivity, liquidity, and workflow solutions they need to transact efficiently across evolving market structures.”
Kelly Mathieson, chief business development officer at Digital Asset, adds: “This is another key milestone as we work alongside market participants to build an always-on, interoperable and secure capital markets infrastructure. Unlocking 24/7 market making enhances the utility of assets and propels the evolution of markets toward greater efficiency and accessibility.”
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