Tradeweb completes real-time tokenized Treasury-vs-USDCx settlement on Canton
Franklin Templeton delivered a tokenized Treasury to Virtu for tokenized cash, but the firms did not disclose trade size.
Start hereThey are blockchain tokens that represent regulated exposure to U.S. Treasury bills or money market funds, with yield delivered onchain under securities rules.

USYC led by about $2.2B in supply versus BUIDL near $2.0B as collateral utility on BNB Chain outpaced brand-led distribution.

Stablecoins target $1 transferability for payments and collateral, while tokenized Treasury products target yield with NAV and redemption rules.

The workflow is acquire a Treasury-backed token, confirm protocol support and LTV, deposit it as collateral, then borrow while monitoring liquidation and redemption plumbing.

Ondo Finance USDY targets on-chain dollar yield for qualifying non‑U.S. investors via an accumulating USDY token or a rebasing rUSDY wrapper.

BUIDL tokens represent shares in BlackRock’s USD Institutional Digital Liquidity Fund, built to target a stable $1 NAV while earning short-term dollar income.
Franklin Templeton delivered a tokenized Treasury to Virtu for tokenized cash, but the firms did not disclose trade size.