Summary
- Ondo Finance said it had been selected for DTCC's industry working group and would participate in developing tokenization services.
- The working group also includes major traditional-finance and digital-asset firms such as BlackRock, Goldman Sachs and JPMorgan.
- Frank La Salla, DTCC CEO, said tokenization would significantly improve liquidity, transparency and efficiency.
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Ondo Finance is joining an industry working group led by the Depository Trust & Clearing Corp. to help develop tokenization services for US capital-market infrastructure.
In a post on X on May 4, Ondo said it had been selected for the DTCC working group. The announcement comes as traditional finance firms deepen efforts to integrate blockchain technology into core market functions.
DTCC is a key pillar of US financial-market infrastructure, safeguarding about $114 trillion in assets and clearing more than $3.7 quadrillion in transactions annually. It is building tokenization services aimed at moving key functions of the US capital markets on-chain.
The working group also includes BlackRock, Goldman Sachs, JPMorgan, Franklin Templeton, Morgan Stanley, Bank of America, Citadel Securities, NYSE Group, Circle, Fireblocks and Robinhood.
Ondo has been expanding its business in tokenized stocks, ETFs and US Treasuries, and is set to play a central role in the project.
DTCC Chief Executive Officer Frank La Salla said tokenization would fundamentally change how markets operate, while significantly improving liquidity, transparency and efficiency.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
