DTCC Tokenization Service Officially Launches, Ondo Finance Becomes Ecosystem Collaborator

On October 28, according to Ondo Finance's official blog, the Depository Trust Company (DTC) has officially launched the DTCC Tokenization Service (DTS). DTC is a subsidiary of the Depository Trust & Clearing Corporation (DTCC). Ondo Finance has joined the service's ecosystem alongside institutions such as Broadridge, DRW, and Fireblocks. DTC participants can convert between traditional and tokenized forms of securities entitlements, with tokenized entitlements possessing the same ownership rights and protections as traditional securities. In July this year, CRCLon and SPYon launched by Ondo became the first tokenized stocks backed by DTC tokenized entitlements. In May this year, Ondo joined the DTC Digital Asset Solutions Industry Working Group to provide feedback on DTS.