DTCC Turns On Its Tokenized Securities Service for 20 Clients, Meeting Its October Target

The Depository Trust Company , the securities depository owned by DTCC , opened the DTCC Tokenization Service to clients on Wednesday, the parent company announced in a release that crossed at 8:04 a.m. ET. Under the service, a security held at DTC can be minted as a token and delivered to a wallet the client picks, and conversion works in both directions between book-entry and tokenized form. DTCC said the tokens keep the legal and economic rights of the securities behind them. So far, 20 DTC participants have signed agreements to use it, among them J.P. Morgan , Citi , Morgan Stanley , Fidelity Investments and Citadel Securities . DTCC said further clients will be added on a rolling basis.

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