Tradeweb executes real-time tokenized US Treasury transaction on Canton Network
Tradeweb executed an onchain trade involving tokenized US Treasuries on the Canton Network, with Franklin Templeton transferring a tokenized Treasury security to Virtu Financial in exchange for tokenized cash. Tradeweb handled execution and price discovery, while Canton synchronized settlement between the assets. The companies said the trade settled in real time; size was not disclosed. Tradeweb called it the first real-time purchase and sale of a tokenized US Treasury settled against USDCx, a USDC-backed stablecoin on Canton, with Blockdaemon, Digital Asset, Societe Generale, Franklin Templeton, Tradeweb, and Virtu Financial involved. The transaction comes ahead of DTCC’s planned Tokenization Services launch, which will cover select stocks, ETFs, and Treasuries. It also reflects Franklin Templeton’s broader push into tokenized assets. More broadly, tokenized US Treasury products have grown into a $14.6 billion market across 84 on-chain products.
