DTCC Launches Tokenisation Service for $30 Trillion in U.S. Securities
The Depository Trust & Clearing Corporation has gone live with a tokenisation platform spanning 34 securities, with JPMorgan, Citi and Morgan Stanley among 20 firms signed up.
AfroEuropa Newsroom
AfroEuropa desk
The Depository Trust & Clearing Corporation (DTCC), a core institution in U.S. securities markets, has launched a tokenisation service covering 34 securities valued at roughly $30 trillion, according to BitKE and CoinDesk. The move brings a large pool of traditional financial assets onto blockchain infrastructure.
At launch, the service supports selected Russell 1000 stocks, exchange-traded funds and U.S. Treasury securities. It runs on the Canton Network and on Besu, a private blockchain operated by DTCC.
Twenty financial institutions have signed agreements to access the platform, including JPMorgan, Citi, Bank of America, Morgan Stanley and UBS, as reported by BitKE. CoinDesk reported that JPMorgan, Citi and Morgan Stanley are among the 20 firms that have signed up.
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