US regulators gave the green light for a new service that will take a critical step toward moving some stocks, bonds and Treasuries onto blockchain technology.
The Securities and Exchange Commission granted permission in the form of a no-action letter to the Depository Trust & Clearing Corp., or DTCC, allowing the firm to custody and recognize tokenized equities and other real-world assets on-chain, according to executives. The move gives the DTCC the ability to offer tokenization services on pre-approved blockchains for three years.
“Although this program is a pilot subject to various operational limitations, it marks a significant incremental step ...