Wall Street · JPMorgan · U.S. · CoinDesk
Wall Street backbone DTCC brings $30 trillion securities closer to blockchain with major banks
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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.
Key facts
- The service is available on the Canton Network CC $0.1010 and DTCC's private Besu blockchain, initially supporting select large-cap stocks from the Russell 1000 index, exchange-traded funds (ETF)
- Analysts at Citi projected tokenized securities will become a $5.5 trillion market by 2030 as more financial institutions adopt blockchain technology
- The company’s road map includes adding Stellar XLM $0.1726 and stablecoin issuer Circle Internet's Arc blockchain next year, along with broader corporate-action support and tools for settling
- Twenty participants have signed agreements to access the service, including Bank of America, Barclays, Citi, Fidelity Investments, JPMorgan, Morgan Stanley, Citadel Securities, State Street and UBS
Summary
DTCC introduced its tokenization service 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 service is available on the Canton Network CC $0.1010 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.