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DTCC processes first live trades in tokenized stocks, ETFs and Treasurys
DTCC said the production trades involved tokenized equities, ETFs and U.S. Treasurys and were designed to support functions like collateral transfers, repo and margin movements.
CoinDesk reports that the Depository Trust & Clearing Corporation processed its first series of live production trades involving tokenized securities, including tokenized stocks, exchange-traded funds and U.S. Treasurys.
DTCC said more than two dozen major financial institutions participated, spanning banks such as JPMorgan Chase and Goldman Sachs, asset managers BlackRock and Vanguard, and technology providers, with the transactions covering collateral transfers, repo, margin movements, securities trades and asset transfers.
Unlike prior blockchain tests, CoinDesk reports the trades ran in a live production environment using tokenized assets already held at DTCC’s central securities depository, The Depository Trust Company.
DTCC described the approach as creating blockchain based digital twins of existing securities, while preserving the same legal ownership, dividend and governance rights as the underlying traditional assets, and said it plans to roll out a broader tokenization service in October.
CoinDesk also notes DTCC safeguards more than $114 trillion in securities and records ownership and settles transactions for stocks, bonds and other instruments as part of its core market infrastructure.