Wall Street backbone DTCC brings $30 trillion securities closer to blockchain with major banks DTCC’s tokenization service went live on Canton Network and private chain Besu, with JPMorgan, Citi and Morgan Stanley among 20 firms signed up. – DTCC introduced its tokenization…
rvice on Canton Network and its private Besu blockchain, bringing U.S. stocks, ETFs and Treasuries onto blockchain infrastructure. – The debut brings blockchain closer to the heart of U.S. markets, with 24/7 securities transfers, existing shareholder protections and plans for onchain settlement and collateral. – Twenty Wall Street firms, including JPMorgan, Citi, Morgan Stanley, Bank of America and UBS, have signed agreements to access the service. The Depository Trust & Clearing Corporation (DTCC), the giant at the heart of U.S. securities markets, went live with its tokenization service Wednesday, taking a step toward bringing stocks, bonds and funds onto blockchain infrastructure
The service is available on the Canton Network The debut is a significant step for Wall Street’s tokenization push because DTCC sits at the center of how U.S. securities markets work. Through its subsidiaries, the firm handles clearing, settlement and custody for much of the country’s stock and bond trading, with more than $114 trillion in securities held at its depository. The company’s road map includes adding Stellar The tokens are backed one-for-one by securities held at DTCC subsidiary Depository Trust Company (DTC), and can move between registered wallets around the clock.
Bringing blockchain technology into the system could make tokenized assets part of mainstream market infrastructure rather than a separate market operating alongside it. Tokenization promises to make financial assets easier to transfer, settle and use as collateral. While banks and asset managers have spent years experimenting with blockchain-based securities, connecting those assets to the systems that already underpin trillions of…