BlackRock joins DTCC tokenisation project
Share
- BlackRock has joined the DTCC's tokenisation initiative.
- The project aims to modernise the US$114 trillion securities market.
- The effort focuses on using blockchain to improve financial market infrastructure.
BlackRock has joined the Depository Trust & Clearing Corporation (DTCC) tokenisation initiative, supporting efforts to bring blockchain technology to the US$114 trillion US securities market.
The project aims to improve how securities are issued, settled and managed by using tokenised assets and shared digital infrastructure.
DTCC said the initiative brings together major financial institutions to develop common standards and test blockchain-based financial infrastructure.
BlackRock's participation adds one of the world's largest asset managers to a growing group of firms exploring tokenised securities and digital asset settlement.
Tokenisation converts traditional financial assets into digital tokens that can be transferred and managed on blockchain networks.
The project reflects growing interest from major financial institutions in using blockchain technology to improve the speed, efficiency and transparency of capital markets.