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Morning Edition · Wednesday, October 14, 2026Published at 1:36 AM EDT · New York
BNY and Citadel Securities test tokenized Treasuries for financing as higher bank deposit rates slow USDC growth
Stablecoin supply stands at $312.39 billion, according to DeFiLlama, and issuers and wallets are turning to yield products such as CoinShares' new self-custody offering on Safe to compete with bank deposits.
BNY and Citadel Securities have tested tokenized United States Treasuries to move collateral faster between trade settlement and financing. The transaction shows how blockchain-based government bonds could let trading firms reuse the same c…
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Part of a tracked trend
Race to Bank and Distribute Stablecoin Reserves
Over 3-6 months, established financial and payments firms compete to custody stablecoin reserves and embed stablecoin rails into cross-border settlement, institutionalizing the plumbing beneath stablecoins.
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More from this edition
- Ledger halts sales in seven Asian markets after confirming a hardware implant that steals recovery phrases
- Aztec discloses a proving flaw in its Alpha V5 network that could let forged transactions pass verification
- Solana sets October 21 to activate Alpenglow, replacing its voting system and targeting roughly 150-millisecond finality
- Coinbase lays out a multi-year plan to move Bitcoin to quantum-resistant signatures as researchers ship a post-quantum Lightning prototype
- NEAR Intents' $3.8 million custody exploit leads a week of smaller vault and accounting bugs and an $800,000 knife robbery in the United Kingdom
- OpenAI is in early talks to buy Trail of Bits, the security firm that audits much of crypto's core code
- Ethereum researchers publish three designs for faster blocks and data on who pays for the front of the block
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