Wall Street is embracing blockchain technology as a core part of its infrastructure. In recent months, major financial institutions such as Citi, Mastercard, Visa, and several US banks have launched various blockchain-based projects, including on-chain payments, asset tokenization, transaction settlement, and more.
These initiatives mark a significant shift in the role of blockchain in traditional finance. While Wall Street's first foray into crypto focused on trading products and investment access, institutions are now moving to integrate blockchain into their core systems.
The Depository Trust & Clearing Corp., for example, is rolling out a tokenization service with over 50 financial firms, with plans to facilitate initial trades for select tokenized real-world assets in July.