Tradeweb completes on-chain U.S. Treasury trade on Canton Network

Tradeweb Markets (Nasdaq: TW) announced the completion of a real-time transaction involving a tokenized U.S. Treasury security executed on its platform, paired with tokenized cash known as USDCx, using the Canton Network's synchronized settlement capabilities.

Franklin Templeton transferred a tokenized U.S. Treasury security to Virtu Financial in exchange for USDCx. Tradeweb served as the execution platform and provided price discovery, while the Canton Network handled on-chain settlement between the two assets.

Other transaction participants included Blockdaemon, Digital Asset, and Societe Generale.

Elisabeth Kirby, Head of Market Structure at Tradeweb, said: "By executing the first real-time on-chain U.S. Treasury transaction on Tradeweb, participants were able to move both the security and cash in real time without the timing and settlement constraints that exist in traditional market infrastructure."

The transaction also relates to the anticipated launch of DTCC's Tokenization Services, which Canton expects later this year. The transaction involved moving U.S. Treasuries beyond traditional market hours and into continuous settlement.

Tony Pecore, Senior Vice President and Director of Digital Asset Management at Franklin Templeton, said: "Every transaction like this is a building block toward a 24/7 liquidity layer, where high-quality assets move with the trust and rigor institutions demand, free of traditional market-hour constraints."

Dan Eckstein, Head of Fixed Income Sales at Virtu Financial, said: "By expanding our market-making capabilities to tokenized U.S. Treasuries, Virtu opens the door to servicing our clients in new and meaningful ways – providing liquidity whenever and wherever they need it, unconstrained by traditional market hours or settlement limitations."

Franklin Resources (NYSE: BEN), parent of Franklin Templeton, reported $1.74 trillion in assets under management as of April 30, 2026.

You May Also Be Interested In

• Chevron signed an agreement with Iraq's Basra Oil Company to advance commercial negotiations for West Qurna 2
• Gogo reshuffles executive role in subsidiary reorganization
• DBV Technologies refreshes ATM program with $150M ADS offering