U.S. Depository Trust & Clearing Corporation to Launch Tokenized Securities Service in July, Paving the Way for Wall Street Infrastructure Shift [Crypto Briefing]

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\r\n[Financial News] The Depository Trust & Clearing Corporation (DTCC) will officially launch its blockchain-based tokenized securities platform in the second half of this year. As the New York Stock Exchange (NYSE) moves to enable tokenized securities trading within its existing order book and Korea Securities Depository (KSD) also begins building a formal system, the era of on-chain finance, from issuance to settlement, is coming into view.
According to the financial investment industry on the 6th, DTCC, a key infrastructure institution responsible for clearing, settlement and custody in the U.S. capital market, plans to launch its tokenized securities service in July and operate a dedicated platform in October. The core of the platform is that it will provide infrastructure for tokenizing on the blockchain the $114 trillion in assets already held in custody by DTCC.
To design the system, DTCC gathered input from 50 companies, including traditional financial firms such as BlackRock, Goldman Sachs and JPMorgan Chase, as well as virtual asset businesses such as Circle Internet Group and Anchorage Digital. The tokenized securities are designed to preserve the same ownership structure and investor protection mechanisms as conventional securities, while shifting only the underlying technology to blockchain, the company explained.
As custody and settlement infrastructure moves to accommodate tokenized securities, efforts to incorporate them into the existing trading system are also accelerating in the secondary market. NYSE recently submitted a rule change proposal to the United States Securities and Exchange Commission (SEC) to allow trading in tokenized stocks and ETFs. Instead of creating a separate digital asset exchange, the plan would allow tokenized securities to use the same order book as conventional securities within the existing National Market System (NMS), while clearing and settlement would be handled through the Depository Trust Company (DTC), a depository under DTCC.
This follows a similar move by NASDAQ. An industry source said, "As both custody and settlement infrastructure (DTCC) and trading infrastructure (NYSE and NASDAQ) are simultaneously embracing tokenized securities, the shift into the regulated financial market is accelerating."
Infrastructure upgrades are also gaining momentum in South Korea. KSD said it signed a contract with Samsung SDS on the same day for the "tokenized securities platform operation and development" project and has begun the system transition.
Samsung SDS plans to upgrade the existing testbed-level system with a target completion date of February next year. Through this, KSD aims to significantly strengthen tokenized securities issuance and rights management functions by linking the existing electronic securities account system with distributed ledger data.
An industry official in tokenized securities said, "The key challenge for tokenized securities is proving to be not just whether they can be traded, but whether rights protection and stability at the level of the traditional financial sector can be implemented on-chain." The official added, "For domestic institutions as well, early market leadership will depend on how complete the infrastructure is in connecting issuance, distribution, settlement and disclosure into a single flow."
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elikim@fnnews.com Kim Mi-hee Reporter