DTCC Sets Plans for October Tokenized Securities Launch
Tech DTCC Sets Plans for October Tokenized Securities Launch The Depository Trust & Clearing Corporation (DTCC) plans to pilot trading of tokenized securities in July with a goal of a full service launch in October. The post-trade market infrastructure giant said Monday that more than 50 TradFi and DeFi firms will play a role in the design and deployment of the service. That DTCC Industry Working Group includes Alpaca, Anchorage Digital, BitGo Bank & Trust, BlackRock, Circle and Fireblocks, along with some of the biggest banks in the country. DTCC, which currently custodies $114 trillion in liquid assets from stocks to exchange-traded funds, said it expects the service will enable tokenization of real-world assets that provide the same entitlements, investor protections and ownership rights as the assets held in traditional form. In December, DTCC received permission from the US Securities and Exchange Commission (SEC) to offer tokenization services on pre-approved blockchains for three years. “Although this program is a pilot subject to various operational limitations, it marks a significant incremental step in moving markets onchain,” SEC Commissioner Hester Peirce said at the time. While the pilot phase will test limited production trades, the full service is expected to tokenize a specific set of some of the most-widely