GameStop · The Block
DTCC’s tokenization launch could accelerate adoption and boost Securitize, StoneX confirms
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The Depository Trust & Clearing Corporation's (DTCC) new tokenization service validates rather than threatens Securitize's business model, according to StoneX analysts, who argue that the two platforms serve different markets.
Key facts
- The firm reiterated its "buy" rating and $18 price target on SECZ shares
- On Monday, the company expanded its tokenized U.S. stock offering to 25 equities, adding 13 companies, including EonMobil, GameStop, Salesforce and Disney, to its existing lineup
- The Depository Trust & Clearing Corporation's (DTCC) new tokenization service validates rather than threatens Securitize's business model, according to StoneX analysts, who argue that the two
- We acknowledge that DTCC has opened a debate about where tokenized U.S. equities should ultimately be anchored," analyst Mark Palmer wrote Monday in a note to clients
Summary
While DTCC's permissioned service is initially limited to certain securities, participants and blockchain networks, Securitize (SECZ) focuses on public-blockchain tokenization, including tokenized funds, equities and assets that can be used in decentralized finance. "We acknowledge that DTCC has opened a debate about where tokenized U.S. equities should ultimately be anchored," analyst Mark Palmer wrote Monday in a note to clients. StoneX also pointed to the potential for tokenized assets to serve as collateral across markets, arguing that the ability to move tokenized Treasuries around the clock could drive demand for tokenized fund shares and equities as collateral. Securitize is also expanding its tokenized equity business.