Wall Street backbone DTCC brings $30 trillion securities closer to blockchain with major banks

The Depository Trust & Clearing Corporation, the backbone of U.S. securities settlement, has launched a tokenization service on the Canton Network and the private Besu chain. JPMorgan, Citi and Morgan Stanley are among 20 firms signed up, bringing $30 trillion in securities closer to blockchain rails. For crypto traders this is a major institutional validation of tokenization, though it runs on permissioned infrastructure rather than public chains, so the near-term price impact is indirect.