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DTCC Launches Tokenized Securities Pilot
Description
The Depository Trust and Clearing Corporation (DTCC) is pioneering tokenized securities, launching a pilot in July and aiming for a full launch by October. This initiative involves over fifty traditional and decentralized finance firms, including BlackRock and Circle. The US Securities and Exchange Commission (SEC) has approved DTCC to run tokenization services on blockchains for three years, maintaining investor protections and ownership rights. Tokenized real-world assets have surged by 66% this year, and tokenized stocks now exceed $1.2 billion in value. The New York Stock Exchange is also developing its own platform for tokenized stocks and exchange-traded funds. This shift towards tokenization is expected to revolutionize asset custody and trading worldwide.
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