The Depository Trust & Clearing Corporation is advancing a tokenization plan for Wall Street assets, according to The Wall Street Journal. Assets named in the report include Microsoft, SPY, QQQ and U.S. Treasuries. Participants include nearly 40 institutions, among them JPMorgan, BlackRock and Goldman Sachs. The firms plan to use tokenized assets for collateral transfers, repurchase agreement transactions and stock trading. The stated goals are to improve capital efficiency, streamline settlement processes and move traditional financial market infrastructure onto blockchain rails. The report points to another step by major financial institutions exploring how tokenization could be applied to core market functions rather than limited pilot products.
The Depository Trust & Clearing Corporation (DTCC) is advancing a tokenization plan for Wall Street assets, according to The Wall Street Journal. Assets mentioned in the report include Microsoft, SPY, QQQ and U.S. Treasuries.
Participants include nearly 40 institutions, including JPMorgan, BlackRock and Goldman Sachs.
Planned uses for the tokenized assets
The institutions plan to use the tokenized assets for collateral transfers, repurchase agreement transactions and stock trading. The effort is intended to improve capital efficiency, streamline settlement and move traditional financial infrastructure onto blockchain-based systems.
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