Tradeweb processed real-time on-chain trading of tokenised U.S. Treasuries on the Canton Network.

According to a recent Cointelegraph report, Franklin Templeton transferred tokenised U.S. Treasuries to Virtu Financial. Payment was settled in tokenised cash based on USDCx, a USDC-linked stablecoin issued on Canton.

Tradeweb handled trade execution and price discovery, and the Canton Network synchronised tokenised U.S. Treasuries with tokenised cash settlement. The transaction was completed in real time, but the size was not disclosed. Tradeweb described the deal as the industry's first real-time purchase and sale of tokenised U.S. Treasuries settled in USDCx.

Blockdaemon, Digital Asset, Societe Generale, Franklin Templeton, Tradeweb and Virtu Financial participated in the transaction. The case came ahead of the launch of DTCC's tokenisation service. DTCC plans to roll out a service within this year that can tokenize some stocks, exchange-traded funds and U.S. Treasuries while maintaining investor protections and ownership rights equivalent to traditional assets.

This year, Franklin Templeton worked with Binance to allow institutions to use tokenised money market fund shares held in a regulated custody framework as trade collateral. It also worked with Ondo Finance on putting a tokenised ETF on a blockchain network.