Tradeweb reported the industry’s first oncheen deal with tokenized US Treasury bonds, with settlements completed in real time. Franklin Templeton and Virtu Financial participated in the operation, while the blockchain network Canton Network provided the transaction’s synchronization. Deal size is not disclosed.

As part of the transaction, Franklin Templeton transferred to Virtu Financial US token bonds and received digital cash in exchange for USDCx tokens. Tradeweb was responsible for the execution of the deal and pricing, while Canton Network provided direct exchange of assets.

Blockdaemon, Digital Asset and Societe Generale also participated in the project, providing technical infrastructure. According to Tradeweb, this is the first real-time transaction in the industry to buy and sell US Treasury bonds with tokenization.

This operation confirms the financial sector’s growing interest in tokenizing traditional assets. The use of blockchain technology can speed up calculations, reduce the number of intermediaries, increase transparency in operations, and reduce operational risks.

The deal came shortly before the launch of a new tokenization service from Depository Trust & Clearing Corporation (DTCC), which will be on the market until the end of 2026. The DTCC platform will allow users to issue tokenized versions of individual stocks, exchange-traded funds (ETFs), and US Treasury bonds while maintaining investor protection and property rights.

Recall that Franklin Templeton previously partnered with Binance to provide institutional investors access to tokenized money market funds.