The Depository Trust & Clearing Corporation, Citi and Swift have jointly released a white paper titled The Connectivity of Digital Finance, arguing that interoperability will be essential if tokenization is to move beyond pilot programs and scale in real-world finance. According to DTCC’s post on X, the paper says tokenization is shifting from experimentation toward implementation, but its full value will depend on linking platforms so that assets, cash and data can move efficiently across traditional and emerging financial infrastructure. The paper describes the future financial system as a hybrid model in which legacy systems, private networks and public blockchains operate together. It also says programmability can embed rules and automation directly into digital assets, supporting automated asset servicing, compliance controls and event-driven payments. Combined with interoperability, those features could improve collateral mobility, liquidity management efficiency and market resilience, especially during periods of market stress. At the same time, the paper says institutional-grade digital markets still need clear regulation, legal certainty, investor protection, operational resilience and sound governance.
The Depository Trust & Clearing Corporation (DTCC) said in a post on X that it has jointly released a white paper with Citi and Swift titled The Connectivity of Digital Finance. The paper says tokenization is moving from experimentation toward implementation, and that unlocking its full value will require interoperability across platforms so assets, cash and data can move efficiently between traditional and emerging financial infrastructure.
According to the paper, the future financial system will take the form of a hybrid model where legacy systems, private networks and public blockchains work alongside one another. It also says programmability can embed rules and automation directly into digital assets, supporting automated asset servicing, compliance controls and event-driven payments.
Paper highlights interoperability and programmability
The white paper says combining interoperability with programmability could improve collateral mobility, liquidity management efficiency and market resilience. It adds that this becomes especially important during periods of market stress.
It also says institutional-grade digital markets still need to rest on regulatory clarity, legal certainty, investor protection, operational resilience and sound governance.
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