Topic
The post-trade process by which securities and cash change hands, shaped by settlement cycles, cutoff times, time zones and custody arrangements.
BNY says its overnight repo with Citadel Securities is the first on a major triparty platform to use a tokenized asset as collateral. The evidence of use so far is a single trade whose size BNY did not disclose.
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DriveWealth, whose network powers investing for more than 100 partners, is integrating Ripple's RLUSD for European settlement, with the US planned. The announcement says partners could gain flexibility to fund outside bank-transfer hours. It does not say how many will use it.
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Average daily securities settlements at the Korea Securities Depository fell 16.5% to 35.4 trillion won in the third quarter. By our sums, corporate bonds maturing within a year are 57% of the 7 trillion won drop and stocks 18%.
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Korea Securities Depository will accept government bonds at up to 98% of value as settlement collateral from late September, ending an all-cash deposit rule. How much foreign equity funds save depends on a daily ratio for stocks and on a second step that starts next month.
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The Securities and Futures Commission is drafting a digital-asset licensing regime alongside the upgrade, and the Hong Kong dollar stablecoin already in circulation totalled 522,000 tokens on August 19.
Reality
Hana Bank's five-year, $100 million note was issued, allocated and paid for in a single day on Euroclear's permissioned ledger. Three years in, that platform has issued more than EUR 1 billion of digital notes.
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Coinbase's layer-2 traded $100 million of tokenized Nvidia, Apple, Alphabet and Meta in one session, 26 days after the last time it managed that, and a single exchange has routed more than 77% of the flow since August.
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Nasdaq and The ValueExchange peg the operating-cost saving from tokenized collateral at about 12%, a ratio published without the cost base or the build cost that would turn it into money. Banks are being asked to treat it as a P&L line anyway.
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