BNY Mellon Plans 24/7 Settlement for US Treasuries by 2027

July 23, 2026 · Markets · CryptoRefuge Team

BNY Mellon, the world's largest custody bank, plans to enable 24/7 settlement for conventional and tokenized US Treasuries by 2027, following a successful after-hours test with stablecoin issuers.

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By extending settlement hours to 24/7, BNY Mellon aims to improve the overall efficiency and liquidity of the US Treasuries market, reducing delays in reserve adjustments following large creations, redemptions, or collateral calls. Currently, settlement processes are limited to traditional banking hours, which can lead to inefficiencies and increased risk. This move could have significant implications for the market.

The involvement of stablecoin issuers in the testing process highlights the growing importance of tokenized assets. > $22.5T in outstanding US Treasury debt highlights the scale of the market that BNY Mellon is targeting with its 24/7 settlement plan. The success of this initiative could have far-reaching implications for the broader financial sector.

As reported by CoinDesk, the after-hours test demonstrates the feasibility of 24/7 settlement for US Treasuries.

Analysis: If BNY Mellon's plan for 24/7 settlement is successful, it could lead to increased liquidity and reduced volatility in the US Treasuries market, attracting more investors and potentially driving up demand for tokenized assets. However, the implementation poses significant technical and regulatory challenges. The next major milestone will be the completion of BNY Mellon's 24/7 settlement system development, expected by the end of 2026.