TLDR Tech / Crypto
Why Wall Street Is Moving On Chain
DTCC received a No-Action Letter from the SEC authorizing tokenization of real-world assets on approved blockchains and is targeting production tokenization of US Treasury securities in H1 2026, after processing $3.7 quadrillion in transactions in 2024. NYSE announced a platform for 24/7 onchain trading and settlement of US equities and ETFs with BNY and Citi support, while Tradeweb executed the first real-time onchain financing of US Treasuries against USDC alongside Bank of America, Citadel Securities, and Virtu Financial. The thesis is that tokenization applies the same velocity-increasing logic that electronic trading brought in the 1990s (24/7 markets, instant settlement, fractionalization, and real-time collateral movement) to the entire global financial stack.
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