The SEC allows DTCC to custody and recognize tokenized stocks and other RWA assets on the blockchain

PANews December 12 News, according to Bloomberg, the U.S. Securities and Exchange Commission (SEC) granted permission to the Depository Trust & Clearing Corporation (DTCC) in the form of a no-action letter, allowing the company to custody and recognize tokenized stocks and other real-world assets (RWA) on the blockchain. This move enables DTCC to provide three years of tokenization services on a pre-approved blockchain. SEC Commissioner Hester Peirce stated in a release, “Although the project is still in the pilot stage and subject to various operational restrictions, it marks an important step forward in the market’s migration onto the chain.” Michael Winnike, Head of Global Strategy and Market Solutions at DTCC’s Clearing and Securities Services, said in an interview that after obtaining the permission, DTCC will also extend its record-keeping work to the blockchain. As the core clearing and settlement center of the U.S. financial system, DTCC plays a vital role in the equities and fixed income markets. Many liquid assets in the U.S. market are held in DTCC’s depository department—Depository Trust Co. The company is expected to launch new tokenization services in the second half of next year.