The US SEC has allowed the DTCC to custody and endorse tokenized stocks and other RWA assets on the blockchain.

The U.S. Securities and Exchange Commission (SEC) granted Depository Trust & Clearing Corporation (DTCC) a license, issued as a no-action letter, allowing the company to custody and endorse tokenized stocks and other real-world assets (RWAs) on a blockchain. This move enables DTCC to offer tokenization services on a pre-approved blockchain for three years. SEC Commissioner Hester Peirce stated in a press release, “While the project is still in the pilot phase and subject to various operational constraints, it marks a significant step towards the market’s migration to on-chain.” Michael Winnike, Head of Global Strategy and Market Solutions for Clearing and Securities Services at DTCC, said in an interview that with the license, DTCC will also extend its record-keeping operations to the blockchain. DTCC, as a core clearing and settlement center in the U.S. financial system, plays a crucial role in the equity and fixed-income product sectors. Many liquid assets in the U.S. market are held in custody by DTCC’s custodian, Depository Trust Co. The company expects to launch its new tokenization service in the second half of next year. (Bloomberg)