Brickken CEO sees growing institutional demand for tokenized assets after BNY and Citadel repo deal

Tokenized securities are becoming part of traditional financial operations as banks expand their use of blockchain technology for financing, custody and settlement, according to Edwin Mata, CEO and co-founder of tokenization platform Brickken. In commentary shared with Crypto Briefing, Mata said recent developments involving BNY, Citadel Securities and Deutsche Bank suggest financial institutions are moving toward practical applications of tokenized assets. The expansion comes as parts of the crypto industry increasingly focus on bringing traditional financial instruments onto blockchain networks, including government bonds and equities. However, resistance from major US companies to tokenized versions of their shares highlights challenges facing the sector. BNY and Citadel demonstrate how tokenization can unlock liquidity BNY and Citadel Securities completed a transaction involving a tokenized two year US Treasury note, marking the first use of tokenized assets on a major triparty repo platform. The Treasury was recorded on BNY’s private digital ledger and settled within minutes rather than through the traditional next business day settlement cycle. Citadel Securities subsequently...