DTCC 'Not Building Walled Gardens' for Tokenization, Says Digital Assets Head
DTCC is developing tokenized securities while prioritizing interoperability and data standards, ensuring digital assets can move seamlessly across blockchains without increased risk or cost. The company rejects creating “walled gardens” and plans to work with multiple networks instead of committing to a single blockchain. Initial tokenized securities will be issued on the Canton Network, a permissioned blockchain for financial institutions, followed by offerings on AppChain, an Ethereum-compatible network. DTCC’s tokenized assets will reference existing securities it already holds rather than being issued natively on blockchains, a model that has drawn criticism from some in the crypto industry who argue for direct issuance. Despite concerns, DTCC maintains that the heavily regulated, permissioned approach is necessary for security and client needs. The company intends to continue expanding to other blockchains based on criteria such as security, resiliency, and client demand while maintaining openness to future technological standards.
