DTCC JUST LAUNCHED TOKENIZATION INFRASTRUCTURE USING ETHEREUM CLIENT TECH.
One of the most important companies in the field of traditional finance has officially launched its tokenization service.
DTCCs Depository Trust Company holds more than $114 trillion in assets under custody.
Its new service allows participating institutions to transfer eligible securities between a traditional book-entry form and a token form while maintaining the same ownership rights and investor protections.
20 major financial institutions have already signed on, including JPMORGAN, CITI, UBS, Morgan Stanley, Trust, Barclays and Bank of America.
One of the two networks supporting the launch is PRIVATE BESU NETWORK.
Basu is an open source Ethereum execution client originally developed for both public and proprietary Ethereum environments.
IMPORTANT: THIS IS NOT ETHEREUM MAINNET.
DTCC uses private Beso infrastructure alongside Canton, with additional networks expected later.
This distinction is important.
Wall Street does not put its entire system of securities into public Ethereum.
But the technology behind the sites is already becoming part of the infrastructure used to tokenize the traditional markets.