ChainCatcher report: On Wednesday, DTCC, the U.S. securities settlement infrastructure, began live production trading of tokenized stocks and government bonds, moving its tokenization efforts from testing to live operations. According to The Wall Street Journal, nearly 40 financial institutions and technology providers participated, including JPMorgan Chase, Goldman Sachs, BlackRock, Vanguard, and the New York Stock Exchange. DTCC’s depositary subsidiary, DTC, holds over $114 trillion in securities. Day-one trading covered use cases such as collateral, repurchase agreements, equities, margin, and asset transfers. Tokenized assets included shares of Microsoft and Circle, the Invesco QQQ Trust, the SPDR S&P 500 ETF, iShares short-term Treasury ETFs, and Treasuries of various maturities. JPMorgan Chase will tokenize a portion of its QQQ holdings. DTCC stated that it is currently in an initial limited production phase; full service is scheduled for official launch in October, at which point institutions holding assets at the clearinghouse will be able to convert selected securities into tokens. The service is built on DTCC’s ComposerX platform and operates under a no-action letter granted to DTC by the SEC in December last year.
DTCC Launches Live Trading of Tokenized Securities with Nearly 40 Financial Institutions
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Summary
DTCC launched real-world assets (RWA) news with live trading of tokenized stocks and Treasury securities on Wednesday, transitioning from testing to production. Nearly 40 financial institutions, including JPMorgan Chase, Goldman Sachs, and BlackRock, are participating. Tokenized assets included Microsoft shares, QQQ, and Treasury bonds. JPMorgan will tokenize a portion of its QQQ holdings. The service operates on DTCC’s ComposerX platform and is supported by a no-action letter from the SEC. New token listings are expected to expand in October.
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