DTCC Launches Blockchain Service Covering Securities Worth US$30 Trillion

Wall Street’s main securities depository launched a tokenisation service on Wednesday that lets banks and brokers convert stocks, exchange-traded funds and US Treasuries in its custody into blockchain tokens. The Depository Trust & Clearing Corporation (DTCC) puts the assets available to be tokenised at about US$30 trillion (AU$42.6 trillion). Its subsidiary, the Depository Trust Company (DTC), holds more than US$114 trillion (AU$161.9 trillion) in assets in custody. At launch, 34 securities can be converted, according to DTCC’s service page. The service runs on the Canton Network and on Besu, a private blockchain operated by DTCC.

Source: Crypto News Australia