Tokenization · Wall Street · Goldman Sachs · New York · CNBC Technology
DTCC, Wall Street’s post-trade powerhouse, tests tokenized markets with industry heavy hitters
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The Depository Trust and Clearing Corporation on Wednesday will complete a set of financial transactions using digital versions, or "tokenized," of assets held at The Depository Trust Company, the company announced.
Key facts
- Shares of Microsoft, Circle Internet Group, Invesco QQQ Trust, State Street SPDR S&P 500 ETF Trust (SPY) and iShares 0-3 Month Treasury Bond ETF (SGOV), as well as Treasurys of different maturities
- The day-long event, first reported by The Wall Street Journal, will include more than 25 firms across the traditional finance and digital assets industries
- Goldman Sachs, BlackRock, Vanguard and the New York Stock Exchange are among the other participating firms, a DTCC spokesperson confirmed
- The Depository Trust and Clearing Corporation on Wednesday will complete a set of financial transactions using digital versions, or "tokenized," of assets held at The Depository Trust Company
Summary
The day-long event, first reported by The Wall Street Journal, will include more than 25 firms across the traditional finance and digital assets industries. "Today is the beginning of a long journey where we will demonstrate that the old and the new can live together, that the technology enables a lot of opportunities for our participants worldwide," Nadine Chakar, global head of DTCC Digital Assets, said in a video statement published Wednesday morning. Tokenization usually refers to the process of issuing digital representations on a blockchain network of publicly traded securities, real world assets or any other form of value. The DTCC is the central post-trade organization in the U.S. financial system that processes, settles and safeguards most stock and bond transactions.