A pilot program involving DTCC and JPMorgan aims to streamline settlement using tokenization. DTCC, via its subsidiary DTC, seeks to integrate tokenized securities entitlements into the existing U.S. settlement system. JPMorgan is working to define on-chain cash for KYC'd capital through its MONY fund. The initiative focuses on creating a regulated pathway for cash-like tokens and DTC-recognized entitlements to interact. The SEC staff's no-action path for DTCC's tokenization service allows for compressed settlement timelines. The pilot program involves representing DTC-held positions as tokens that can move between approved blockchain addresses, with DTC maintaining the official record.

A pilot program involving DTCC and JPMorgan aims to streamline settlement using tokenization. DTCC, via its subsidiary DTC, seeks to integrate tokenized securities entitlements into the existing U.S. settlement system. JPMorgan is working to define on-chain cash for KYC'd capital through its MONY fund. The initiative focuses on creating a regulated pathway for cash-like tokens and DTC-recognized entitlements to interact. The SEC staff's no-action path for DTCC's tokenization service allows for compressed settlement timelines. The pilot program involves representing DTC-held positions as tokens that can move between approved blockchain addresses, with DTC maintaining the official record.