*$BEAT $RIVER $ACT : SEC Approves DTCC's Blockchain Tokenization Plan đ*
The US Securities and Exchange Commission (SEC) has approved the Depository Trust & Clearing Corporation's (DTCC) request to tokenize stocks and bonds on the blockchain. This move is expected to bring trillions of dollars into the crypto market, marking a significant milestone in the integration of traditional finance with blockchain technology.
- *Key Points:*
- DTCC will tokenize US Treasury securities on the Canton Network, a permissioned blockchain.
- The SEC's no-action letter allows DTCC to experiment with blockchain-based workflows while maintaining existing market safeguards.
- The move is expected to enhance efficiency, transparency, and liquidity in securities transactions.
- DTCC plans to expand tokenization to other assets, including ETFs and equities.
This development is seen as a major step towards mainstream adoption of blockchain technology in traditional finance. As DTCC CEO Frank LaSalla stated, "US financial markets are poised to move onchain" š ² ³.
