The Depository Trust & Clearing Corporation (DTCC) has launched its tokenization platform in production, marking a significant step towards integrating traditional financial market infrastructure with blockchain technology.
Eligible securities can now be converted into tokens without altering their legal protections, allowing for the transfer between traditional and tokenized formats while retaining full rights.
The initial rollout is being conducted in a controlled environment to test the system under live market conditions. Industry testing involved over 50 firms, including major financial institutions like BlackRock, BNP Paribas, Citi, Goldman Sachs, JPMorgan, Morgan Stanley, and State Street.
DTCC plans to officially launch the service in October, allowing firms to tokenize eligible securities held at the clearinghouse. The first basket includes Microsoft shares, Circle stock, major ETFs such as QQQ and SPY, Treasury ETFs, and US government bonds.