Wall Street backbone DTCC brings $30 trillion securities closer to blockchain with major banks
Source: CoinDesk ·
From the source
DTCC's tokenization service went live on Canton Network and private chain Besu, with JPMorgan, Citi and Morgan Stanley among 20 firms signed up. 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 CC $0.1146 and DTCC's private Besu blockchain, initially supporting select large-cap stocks from the Russell 1000 index, exchange-traded funds (ETF) and U.S. Treasury bills, notes and bonds. DTCC’s product website says 34 securities are eligible at launch, which represent approximately $30 trillion market value, a DTCC spokesperson told CoinDesk. 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…