DTCC tokenization service goes live with major banks
In short
DTCC has launched its tokenization service on the Canton Network and private chain Besu. JPMorgan, Citi and Morgan Stanley are among 20 firms that signed up.
The move could bring a huge amount of securities activity closer to blockchain systems. The report does not say how much business will move right away or what the banks will earn from it.
What the reporting says
DTCC’s tokenization service went live on the Canton Network and private chain Besu, with JPMorgan, Citi and Morgan Stanley among 20 firms signed up, according to a publisher-supplied summary. The reporting says the platform is aimed at moving $30 trillion in securities closer to blockchain infrastructure. It does not state transaction volumes, launch timing details, or any immediate financial impact for the participating banks.
Why it matters
DTCC launched its tokenization service on the Canton Network and private chain Besu, with JPMorgan, Citi and Morgan Stanley among 20 participating firms. The summary says the service is meant to bring $30 trillion in securities closer to blockchain infrastructure. The reporting does not specify usage levels, settlement effects, or revenue impact for DTCC or the banks.