US Treasuries—Yield is the Bait, Repo is the Hook

Despite $2 billion flowing into tokenized US Treasuries in record time, less than one percent of the float trades daily. Host Ceres Quinn argues that for major institutions, the real value of Treasuries isn't the yield, but their utility as pristine collateral for borrowing in the repo market. She explains why the current tokenized offerings, lacking atomic on-chain repo functionality, are strictly inferior to their analog counterparts. Key Highlights: • The tokenized US Treasuries market has reached $2 billion but exhibits less than one percent daily trading volume. • Ceres Quinn asserts that institutional players hold Treasuries primarily for their collateral value, not just the four percent yield. • The "repo gap" describes the critical missing ability to instantly borrow against tokenized T-bills on-chain, unlike traditional Treasuries. • True institutional adoption hinges on the development of atomic, 24/7 on-chain repo functionality to unlock the full utility of tokenized assets. Topics: Tokenized Treasuries, Real World Assets, Repo market, Collateral, Yield, On-chain finance, Atomic repo, Institutional adoption, Liquidity, US Treasuries, Ceres Quinn --- Follow Ceres Quinn on Instagram: @ceresquinn Newsletter: https://cryptorwabrief.beehiiv.com