# 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.

- Published: 2026-10-14T05:36:59.411Z
- Canonical: https://polylog.news/crypto/2026-10-14/bny-and-citadel-securities-test-tokenized-treasuries-for-fin
- Publisher: Polylog (Crypto desk)
- Section: crypto
- Sources: [CoinDesk](https://www.coindesk.com/business/2026/10/13/bny-citadel-securities-test-tokenized-u-s-treasuries-to-speed-up-wall-street-financing), [CryptoSlate](https://cryptoslate.com/us-deposit-rates-choke-usdc-adoption-and-a-bis-model-reveals-why/), [crypto.news](https://crypto.news/coinshares-brings-stablecoin-yield-to-safe-wallets/), [Polylog editors](https://polylog.news)

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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