DTCC sets October launch for tokenized securities platform in Wall Street blockchain push
DTCC will pilot a tokenized securities platform in July and launch it in October, aiming to enhance market liquidity and efficiency.Summary
The Depository Trust & Clearing Corporation (DTCC), a major Wall Street operator, has announced plans to launch a tokenized securities platform in October, following a pilot program in July. This new service, integrated within DTCC's Depository Trust Company, will enable firms to create digital versions of assets already in custody, maintaining existing ownership rights and protections. The platform is being developed with input from over 50 companies, including financial giants like BlackRock, Goldman Sachs, and JPMorgan, as well as crypto-native firms such as Anchorage and Circle. This initiative represents a significant step towards blockchain-based settlement for core market infrastructure, as DTCC processes trillions of trades daily and holds over $114 trillion in securities. Tokenization, the representation of assets on a blockchain, is gaining traction among traditional financial institutions for its potential to reduce settlement times, cut costs, and broaden market access. DTCC's move aligns with other Wall Street entities like Nasdaq and Intercontinental Exchange, which are also exploring blockchain-based solutions for asset issuance and trading, contributing to a broader trend towards shared infrastructure for diverse asset classes.
(Source：CoinDesk)