BNY Mellon’s tokenized cash launch is a big signal for where U.S. capital markets are headed.
The world’s largest custodian is bringing cash on-chain starting with collateral, margin, and intraday liquidity workflows, not retail payments.
What this enables:
- Tokenized cash used as collateral for margin
- Intraday settlement & reconciliation in real time
- 24/7 availability with bank-deposit legal protections
This is a custodian-led, step-by-step path to tokenization very different from crypto-native DeFi.
With JPM already deploying tokenized cash (and others like Citi, UBS, BofA, HSBC expected), plus DTCC partnering with Canton, the pieces are coming together.
If this pace continues, U.S. markets may soon run on a fully tokenized collateral stack first on semi-public networks like @CantonNetwork, before scaling to public chains.
The infrastructure shift is no longer theoretical. It’s happening.
The world’s largest custodian is bringing cash on-chain starting with collateral, margin, and intraday liquidity workflows, not retail payments.
What this enables:
- Tokenized cash used as collateral for margin
- Intraday settlement & reconciliation in real time
- 24/7 availability with bank-deposit legal protections
This is a custodian-led, step-by-step path to tokenization very different from crypto-native DeFi.
With JPM already deploying tokenized cash (and others like Citi, UBS, BofA, HSBC expected), plus DTCC partnering with Canton, the pieces are coming together.
If this pace continues, U.S. markets may soon run on a fully tokenized collateral stack first on semi-public networks like @CantonNetwork, before scaling to public chains.
The infrastructure shift is no longer theoretical. It’s happening.
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