# DTCC Articoli collegati

Il Centro Notizie HTX fornisce gli articoli più recenti e le analisi più approfondite su "DTCC", coprendo tendenze di mercato, aggiornamenti sui progetti, sviluppi tecnologici e politiche normative nel settore crypto.

The $4 Quadrillion Switch Has Been Flipped: DTCC Moves Wall Street On-Chain, an Infrastructure Shift, Not a Crypto Bet

The Depository Trust & Clearing Corporation (DTCC), which custodies $115 trillion in assets and settles quadrillion-dollar securities annually, has executed its first real settlement of tokenized stocks, ETFs, and treasury securities. This marks a fundamental infrastructure shift in global finance, not merely a cryptocurrency experiment. Key insights from a discussion with DTCC's digital asset lead and BCG partners frame this transition. First, this is a multi-decade rebuild of financial rails, akin to telecom's shift to packet-switching, potentially exposing 15-30% of bank profits by 2035. Second, atomic settlement is a misnomer for scale; DTCC's netting eliminates 98% of gross obligations, a liquidity necessity. The first major application will be in collateral and repo markets, enabling near real-time, 24/7 movement and valuation of trillions in assets, reducing capital costs. BCG's projection of $8.8 trillion in tokenized real-world assets by 2035 assumes a 16% penetration rate, but momentum matters more than the precise figure. Winners will be structural orchestrators that abstract blockchain complexity for clients, not proponents of any single chain. Crucially, risk management is becoming code, with compliance logic embedded in smart contracts, though the role of human discretion in crises remains an open question. The core debate is settled: the system's deepest node has moved. The remaining variable is the adoption timeline.

marsbit07/24 07:42

The $4 Quadrillion Switch Has Been Flipped: DTCC Moves Wall Street On-Chain, an Infrastructure Shift, Not a Crypto Bet

marsbit07/24 07:42

XLM falls despite Stellar’s $114T tokenization opportunity – Just bad timing?

Stellar (XLM) is a leading blockchain for tokenization, partnering with DTCC to potentially tokenize over $114 trillion in securities by 2027 and securing $1 billion in private credit transfers. This has fueled significant network activity, with daily transactions averaging 5.5 million and tokenized market cap exceeding $2.9 billion. Despite these strong fundamentals and institutional backing, the price of XLM has declined slightly, trading near $0.183. Analysts note the price is consolidating in a symmetrical triangle pattern, with an impending breakout likely to determine its next major price move. The current lag is attributed to capital outflow, but the long-term tokenization opportunity remains substantial.

ambcrypto07/17 11:47

XLM falls despite Stellar’s $114T tokenization opportunity – Just bad timing?

ambcrypto07/17 11:47

Clearing Giant with $114 Trillion in Assets Tokenizes Securities, Has Crypto Won?

On July 15, the US securities settlement giant DTCC conducted its largest production-level test for tokenization, marking a significant shift from previous workarounds. The test involved approximately 40 institutions, including major players like JPMorgan, Citadel Securities, and State Street, as well as crypto-native firms such as Circle, Chainlink, and Ondo Finance. For the first time, DTCC, which custodies over $114 trillion in securities, directly created on-chain "digital twin" tokens for stocks, ETFs, and U.S. Treasuries held in its depository (DTC). These tokens share the same CUSIP identifiers and legal rights as the underlying assets. Key transactions included JPMorgan tokenizing an Invesco QQQ ETF to post as collateral at CME Group and DriveWealth settling a tokenized equity trade with Vanguard. The test paves the way for the official launch of the DTCC Tokenization Service in October. This move centralizes the issuance authority for tokenized traditional securities with the core market infrastructure itself. While projects like Ondo Finance (which participated in the test) will continue providing distribution and DeFi integration, their underlying collateral can now be DTCC-issued tokens, enhancing transparency and credit backing. The initiative aims to unlock liquidity in collateral by enabling 24/7 settlement and transfer across venues, a direct efficiency gain for DTCC. The test culminates years of DTCC's blockchain exploration, utilizing two key infrastructures: a private Hyperledger Besu chain for internal control and the Canton network (co-chaired by DTCC and Euroclear) for interoperable, privacy-focused transactions with external institutions. The event signals institutional tokenization moving into a new, mainstream phase led by traditional finance incumbents.

Foresight News07/16 08:15

Clearing Giant with $114 Trillion in Assets Tokenizes Securities, Has Crypto Won?

Foresight News07/16 08:15

Ondo joins DTCC tokenization initiative, but price breakout remains unconfirmed

Ondo Finance announced the launch of the first tokenized stock representations backed by DTC tokenized entitlements, joining major institutions like BlackRock and Goldman Sachs in a significant DTCC initiative. This news boosted the price of its ONDO token by 5.6%, with a 51.7% increase in trading volume. However, technical analysis suggests a cautious outlook. The altcoin remains in a long-term bearish structure and is consolidating within a descending triangle pattern, with resistance near $0.336. Key indicators like the CMF and OBV do not yet show consistent buying pressure. Traders are advised to wait for a confirmed bullish breakout above key resistance levels at $0.372 and $0.394 before considering long positions, as the current setup carries risk despite the positive news.

ambcrypto07/16 03:02

Ondo joins DTCC tokenization initiative, but price breakout remains unconfirmed

ambcrypto07/16 03:02

Ondo Partners with DTCC to Launch World's First "Digital Twin" U.S. Stock Token, BlackRock and J.P. Morgan Are On Board

Ondo Finance, in partnership with DTCC, has launched the first-ever "digital twin" tokenized U.S. stock tokens, with participation from institutions including BlackRock and JPMorgan Chase. This marks the first time tokenized equity on-chain is backed by traditional financial clearing infrastructure. Through DTCC's tokenization service, the tokens (CRCLon and SPYon) represent direct digital twins of the underlying securities (Circle stock and SPDR S&P 500 ETF) held in custody at DTCC's Depository Trust Company. Unlike synthetic assets, these tokens can convert between traditional and tokenized forms while the securities remain within DTC's institutional infrastructure. This project represents a significant step toward interoperability between traditional finance and DeFi, using established market plumbing rather than building parallel systems. Ondo CEO stated the design prioritizes interoperability with institutional infrastructure. The initiative aims to enhance flexibility, access new liquidity, and increase utility for Ondo's tokens across global exchanges and DeFi platforms.

marsbit07/16 02:26

Ondo Partners with DTCC to Launch World's First "Digital Twin" U.S. Stock Token, BlackRock and J.P. Morgan Are On Board

marsbit07/16 02:26

Grayscale: The Three Evolution Stages of Stock Tokenization and a Review of Core Beneficiary Public Blockchains

Grayscale outlines three key phases in the adoption of tokenized stocks, each benefiting different blockchain infrastructures. Phase 1: The "Wrapper Model." Third-party platforms create tokens representing claims on an SPV that holds the underlying stocks. While not conferring direct ownership, these tokens enable DeFi use and retail access. This currently dominant model (~70% by market cap) primarily operates on Ethereum, Solana, and BNB Chain. Phase 2: The "Entitlement Model." Major financial institutions like DTCC tokenize existing, regulated securities through their post-trade infrastructure to enable on-chain settlement and movement. The upcoming DTCC pilot on Canton Network exemplifies this institutional-led approach. Phase 3: The "Issuer-Led Model." Companies natively issue securities directly on a blockchain, as recently demonstrated by Securitize. This model offers the greatest long-term potential but requires more regulatory clarity. It is expected to favor open-architecture blockchains like Ethereum and Solana, as well as hybrid networks like Avalanche. The report posits that all three models will coexist. The primary blockchain networks poised to benefit from tokenized equity growth are Ethereum, Solana, BNB Chain, Avalanche, and Canton Network.

marsbit07/14 01:45

Grayscale: The Three Evolution Stages of Stock Tokenization and a Review of Core Beneficiary Public Blockchains

marsbit07/14 01:45

Grayscale: The Three Evolutionary Stages of Stock Tokenization and a Rundown of Core Beneficiary Public Blockchains

Grayscale research outlines three evolutionary phases for the tokenization of equities, each benefiting different blockchain infrastructures. The first phase is the third-party "wrapper model," where a Special Purpose Vehicle (SPV) holds the underlying stock and tokenized shares represent claims on that entity. This model, accounting for over 70% of the current tokenized stock market cap, allows for DeFi integration and is prevalent on public blockchains like Ethereum, Solana, and BNB Chain. The second phase is the "entitlement model," exemplified by an upcoming pilot from the Depository Trust & Clearing Corporation (DTCC) on the Canton Network. This approach involves placing existing, regulated securities onto a blockchain for transfer within the post-trade infrastructure, without creating a new security. The third and most transformative phase is issuer-led native issuance, where companies directly issue securities on-chain. While offering the greatest long-term potential, this model requires further regulatory clarity and is seen as favoring open-architecture blockchains like Ethereum and Solana, as well as hybrid networks like Avalanche. The report concludes that all three models will likely coexist. The blockchains poised to benefit most from tokenization growth are identified as Ethereum, Solana, BNB Chain, Avalanche, and Canton Network.

链捕手07/14 01:27

Grayscale: The Three Evolutionary Stages of Stock Tokenization and a Rundown of Core Beneficiary Public Blockchains

链捕手07/14 01:27

24/7 Clearing Has Arrived for US Stocks, But Crypto Didn't Get a Ticket In

The U.S. National Securities Clearing Corporation (NSCC), a subsidiary of the Depository Trust & Clearing Corporation (DTCC), has launched 24-hour, five-day-a-week clearing for traditional securities. This move directly undermines a core narrative of the cryptocurrency industry, which has long touted the 24/7 trading capability of digital assets as a key advantage over traditional finance. The DTCC's implementation of near-continuous clearing did not utilize any public blockchain networks, contrary to hopes within the crypto community. Instead, the institution has consistently relied on private, permissioned systems for its projects, such as the Ion settlement platform and a recent U.S. Treasury tokenization initiative on the Canton network. Expectations from supporters of Ethereum, XRP Ledger, and other public chains for DTCC integration have repeatedly failed to materialize. While crypto markets still maintain a minor differentiation by operating on weekends, the DTCC's successful rollout of extensive clearing hours demonstrates traditional finance can evolve its own infrastructure to meet demand for longer trading windows, without involving the public cryptocurrency ecosystem.

marsbit07/01 10:48

24/7 Clearing Has Arrived for US Stocks, But Crypto Didn't Get a Ticket In

marsbit07/01 10:48

24/5 Settlement Is Here for US Stocks, but Cryptocurrency Didn't Get a Ticket

The U.S. National Securities Clearing Corporation (NSCC), a subsidiary of the Depository Trust & Clearing Corporation (DTCC), has announced the implementation of 24-hour clearing operations on weekdays. This move, approved by the SEC and being rolled out in phases, fundamentally challenges a core narrative of the cryptocurrency industry: that digital assets offer a unique advantage with their 7x24 trading availability, unlike traditional markets that close at 4 p.m. The transition to near-continuous clearing for stocks and other traditional assets diminishes this perceived crypto edge. While crypto markets still operate on weekends, the article notes that DTCC could potentially expand to weekend clearing in the future if demand warrants. The development is presented as another instance where DTCC has disappointed crypto enthusiasts. Despite frequent speculation from communities supporting Ethereum, XRP Ledger, and others that DTCC would integrate public blockchains, the clearing giant consistently opts for private, permissioned distributed ledger solutions for its projects, such as its Ion platform and a recent U.S. Treasury tokenization initiative on the Canton network. The article concludes that the successful launch of this traditional finance "always-on" market relied entirely on existing mature infrastructure, with the cryptocurrency industry failing to secure a role or "admission ticket" in its implementation.

Foresight News07/01 10:03

24/5 Settlement Is Here for US Stocks, but Cryptocurrency Didn't Get a Ticket

Foresight News07/01 10:03

Chainlink Smart Collateral Tech Selected for DTCC Financial Infrastructure Trial

Chainlink's Smart Collateral technology has been chosen for a financial infrastructure trial by the DTCC (Depository Trust & Clearing Corporation), focusing on collateral management and related processes. The announcement, part of a discovery pack that also referenced a Pangea foreign exchange settlement trial context, signals an expansion of Chainlink's role in institutional infrastructure. The report emphasizes this is a trial phase, not a completed commercial rollout or a finalized multi-trillion-dollar deal. In a market with thin liquidity and fragile Bitcoin price direction, such verified ecosystem updates provide a tangible data point for traders, separate from speculative narratives. The importance lies in the specific, checkable signal it offers regarding institutional adoption and on-chain activity. Readers are cautioned against overstating the trial's scope. The next steps for verification are official announcements from the DTCC and Chainlink's own developer materials to confirm the setup as a developing market signal.

bitcoinist06/28 18:36

Chainlink Smart Collateral Tech Selected for DTCC Financial Infrastructure Trial

bitcoinist06/28 18:36

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