Alpaca Joins JPMorgan and Citadel Securities as US Settlement Hub Starts Tokenizing Stocks
By Damian Chmiel
AI summary of the source article
Alpaca is among 20 firms, including JPMorgan and Citadel Securities, participating in DTCC's newly launched tokenization service. The platform enables participants to convert eligible US stocks, ETFs, and Treasuries into tokens and back.
Why it matters
Alpaca said tokenized US equities scale "when traditional markets and onchain markets share the same foundation."
Key facts
- DTCC launched its tokenization service allowing 20 participant firms to tokenize and redeem US stocks, ETFs, and Treasuries.
- Participants include Alpaca, Citadel Securities, J.P. Morgan, Morgan Stanley, UBS, Apex Clearing, DriveWealth, and Fidelity Investments.
- Eligible assets at launch are Russell 1000 constituents, ETFs tracking major indices, and US Treasury securities.
Source excerpt · Finance Magnates
US broker-dealer Alpaca is one of 20 firms that signed up for the Depository Trust & Clearing Corporation's (DTCC) tokenization service, which went live yesterday (Wednesday). It lets them turn US stocks, ETFs and Treasuries held at the depository into tokens and back. Tokenized stocks that pass through Alpaca's network are issued by third parties. They generally give economic exposure without vot…