DTCC to Tokenize U.S. Treasuries on Canton Network
- The Depository Trust & Clearing Corporation (DTCC) plans to tokenize U.S. Treasuries on the Canton Network.
- DTCC processed $3.7 quadrillion in transactions last year, highlighting its significant role in financial markets.
- Canton’s ecosystem includes $6 trillion in assets and over 600 participating institutions.
- The U.S. Securities and Exchange Commission approved a three-year pilot for DTCC to issue tokens on blockchains.
- Canton’s native cryptocurrency CC rose by 2.6% to $0.075, despite a fall of over half since its debut.
DTCC’s initiative to tokenize securities on the Canton Network marks an important step in integrating blockchain technology into traditional finance, aiming for greater efficiency while maintaining compliance with existing regulations.
This move underscores Wall Street’s growing interest in digital assets, as evidenced by DTCC’s leadership role within Canton’s governance structure and the SEC’s pilot approval for blockchain token issuance.(Source)
