DTCC Forms Industry Group to Advance Tokenization in U.S. Capital Markets

The Depository Trust & Clearing Corporation (DTCC) has announced the formation of an industry working group aimed at advancing the tokenization of U.S. capital markets. According to ChainCatcher, Ondo has been selected to join this group, collaborating with major financial institutions such as BlackRock, Goldman Sachs, JPMorgan Chase, Franklin Templeton, Morgan Stanley, Bank of America, Citadel Securities, the New York Stock Exchange, Circle, Fireblocks, and Robinhood. DTCC, which oversees assets exceeding $114 trillion and clears transactions totaling $3.7 trillion annually, is developing a tokenization service to bring core processes of the U.S. capital markets onto the blockchain. DTCC President and CEO Frank La Salla stated, "We believe tokenization will significantly alter market operations, offering investors new levels of liquidity, transparency, and efficiency."