BNY Mellon aims for 24/7 tokenized U.S. Treasury settlement by 2027

Custodian BNY Mellon, which oversees about $62.6 trillion in assets, announced plans to launch a continuous, tokenized settlement service for U.S. Treasury bonds. The bank expects private‑blockchain pilots to begin by the end of the year and the full rollout of the 24‑hour settlement infrastructure by 2027.

The service would allow institutional clients to transfer tokenized Treasury securities and corresponding payments at any time, removing the overnight, weekend and holiday pauses that current settlement systems impose. If implemented, the platform could affect collateral management, cash‑flow timing and broader adoption of real‑world asset tokenization, although the initiative remains a plan rather than an operational product at this stage.