Clearing giant's move toward live tokenization market adds weight to Wall Street's blockchain push.
DTCC, Wall Street's clearinghouse, plans its first tokenized asset trades in July, with a full launch in October. The move adds weight to Wall Street's push to tokenize among NYSE, Nasdaq, BlackRock, JPMorgan and others.
Major Wall Street operator Depository Trust & Clearing Corporation said Monday it will begin limited production trades of tokenized securities in July, with a broader launch of its platform set for October. The service, built within DTCC's Depository Trust Company, will allow firms to issue digital versions of assets already held in custody, while keeping the same ownership rights and protections, according to the press release.
The system is being shaped with input from more than 50 firms, including BlackRock, Goldman Sachs, JPMorgan and crypto-native companies like Anchorage and Circle, the firm said. The effort marks one of the most concrete timelines yet from a core piece of market infrastructure moving into blockchain-based settlement. DTCC sits at the center of U.S. markets, processing trillions of trades daily and serving as custodian of more than $114 trillion in securities.
Tokenization — the process of representing assets such as stocks or bonds on a blockchain — has drawn growing interest among traditional financial institutions. Advocates say it can reduce settlement times, cut costs and open markets to new participants.
"We believe tokenization will significantly change how markets work and operate, bringing new levels of liquidity, transparency and efficiency to investors," said Frank La Salla, DTCC President and CEO.a framework for companies to issue blockchain-based shares and is partnering with the parent company of crypto exchange operator Kraken to distribute them globally, with a potential launch as early as 2027. Intercontinental Exchange, which owns the New York Stock Exchange, has alsoa no-action letter from the SEC, allowing it to offer tokenization services for a defined set of assets, including Russell 1000 stocks, ETFs and U.S. Treasuries.
AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to The video game retailer’s proposed acquisition plan revives question on whether its $368 million bitcoin stash could be sold to fund the expansion. Video game retailer GameStop proposed to acquire online marketplace eBay for $55.5 billion in a major expansion bid.
The company plans to fund the bid with $9.4 billion in cash and liquid investments on its balance sheet plus up to $20 billion in financing, raising questions about whether it will...13 hours ago
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