DTCC Turns On Its Tokenized Securities Service for 20 Clients, Meeting Its October Target
By Unchained
AI summary of the source article
The Depository Trust Company has launched its DTCC Tokenization Service, allowing DTC-held securities to be minted as tokens with bidirectional conversion. Twenty participants, including J.P. Morgan, Citi, and Citadel Securities, have signed agreements to use the platform.
Why it matters
According to DTCC President and CEO Frank La Salla, the launch "marks the culmination of years of work to bring tokenized securities into a regulated framework supported by trusted market infrastructure."
Key facts
- The DTCC Tokenization Service enables DTC-held securities to be minted as tokens and converted bidirectionally between book-entry and tokenized form.
- Twenty DTC participants have signed agreements to use the service, with 34 securities available to tokenize at launch.
- The service currently connects to the Canton Network and DTCC's private Besu network, supported by an SEC staff no-action letter.
Source excerpt · Unchained
Clients of the Depository Trust Company can now tokenize securities it holds on Canton or a private Besu network, with 34 securities eligible at launch, according to DTCC. The post DTCC Turns On Its Tokenized Securities Service for 20 Clients, Meeting Its October Target appeared first on Unchained .