DTCC Launches Securities Tokenization Service, Picks BitGo, Blockdaemon as Partners
Summary
- The Depository Trust & Clearing Corp. (DTCC) said it has officially launched a securities tokenization service covering 34 securities.
- The tokens are linked one-to-one with securities held by DTC, and token holders have the same legal and economic rights.
- The service uses CUSIP on-chain and allows 24/7 P2P trading and near-real-time ownership tracking. Initial partners include BitGo, Blockdaemon, Fireblocks and HashKey.
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The Depository Trust & Clearing Corp. has officially launched a securities tokenization service.
Odaily and other outlets reported on October 28 that DTCC rolled out its in-house securities tokenization service that day. The initial offering covers 34 securities.
The tokens supported by DTCC are linked one-to-one with securities held by the Depository Trust Co., or DTC, the U.S. central securities depository. Token holders have the same legal and economic rights as holders of the underlying securities.
The same Committee on Uniform Securities Identification Procedures, or CUSIP, identifiers used in traditional financial markets will also be used on-chain. Peer-to-peer trading between wallets registered with DTC will be available 24/7. DTCC said changes in ownership can also be tracked in near real time.
Initial token wallet and application partners include BitGo, Blockdaemon, Fireblocks and HashKey.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul