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Crypto

BNY, Citadel Securities complete trade using tokenised U.S. Treasuries to cut collateral transfer time

BNY and trading firm Citadel Securities have completed a transaction using tokenised U.S. Treasuries, CoinDesk reported. The trade was intended to show that tokenised Treasuries can be used immediately as collateral for borrowing after settlement. Banks and trading firms often borrow short-term funds using Treasuries as collateral, but moving securities between accounts and settlement systems takes time and ties up assets. BNY plans to expand digital cash and tokenised deposit functions and extend operating hours for certain settlement systems.

Crypto

Crypto liquidations surge as oil, yields jump; XRP, Ethereum, Solana stumble

The cryptocurrency market logged large-scale liquidations as macroeconomic jitters and risk-off sentiment weighed on prices. About $369.67 million in derivatives positions were forcibly liquidated in a day, pushing bitcoin and major altcoins lower. The slide centred on XRP, Ethereum and Solana as total market value fell to around $2.59 trillion to $2.70 trillion. Long positions accounted for most liquidations, while spot ETF flows showed net outflows for bitcoin and inflows for some other tokens.

Crypto

Digital Asset raises additional $10 million from Shinhan Financial, SC Ventures

Digital Asset, developer of the Canton blockchain, has raised an additional $10 million from South Korea’s Shinhan Financial Group and Standard Chartered’s SC Ventures. TheBlock reported the investment increased the company’s ongoing funding round to $365 million from $355 million, at the same $2 billion valuation as the previous round. Digital Asset last month announced a $355 million fundraising led by a16z crypto with participation from major institutions.