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Scott Melker breaks down the Depository Trust & Clearing Corporation’s (DTCC) milestone tokenization service launch, with major Wall Street players including Bank of America (BAC), Citi (C), Fidelity Investments, JPMorgan (JPM), and Morgan Stanley (MS) reportedly involved. Melker examines how tokenization could transform traditional financial markets by bringing assets onto blockchain-based infrastructure and expediting transactions.
We’ve seen it progressing and it is finally here. Here it is right here.
DTCC tokenization service goes live, marking major milestone in the adoption of digital assets. The DTCC settles all of your stock trades. These are the people famous for greatest hits like T+ 2 settlement and T+ 1 settlement. But now, in theory, we will be able to settle our trades. Institutions will uh
in nearly real time because of blockchain and tokenization. So, this was announced at the end of last year. You’ll remember the DTCC got a no-action letter from the SEC that allowed them to move forward with tokenization. They made announcements about working with Canton Network and then later others. Well, this is launching on Canton and their own private BESU, Besu.
Besu, Besame Mucho, Besu, Besu. It’s the name of their network.
They’re launching that on their network and on Canton, which will start with 34 securities and about 20 partners, but it’s the biggest names, J. P. Morgan City, Morgan Stanley, Fidelity, and Bank of America. When we talk about adoption of blockchain, there is no bigger example than the DTTC quadrillions.
Quadrillions in volume, that’s a real number. Quadrillions, right?
It’s all coming to blockchain. The question still remains in my mind whether this is the co-option of our technology by Wall Street in a very boring way where it becomes their plumbing and we don’t generally benefit from it. But I think that this obviously is just a massive signal that everything will be tokenized and there will be plenty of ways for us as retail investors to eventually
uh be able to capitalize from that. I guess if you’re a Canton token holder, that would be one way, but we know that the world is going to also tokenize on Ethereum and Solana and that it already is.
