JPMorgan, BlackRock, Goldman Sachs join DTCC's stock and bond tokenization pilot

Around 40 financial institutions and technology firms, including JPMorgan, Goldman Sachs, BlackRock, Vanguard, and the New York Stock Exchange (NYSE), are participating in a pilot program by the U.S. Depository Trust & Clearing Corporation (DTCC) to convert U.S. stocks and Treasury bonds into digital tokens. According to The Wall Street Journal, the DTCC plans to tokenize securities deposited by these institutions, record them on a blockchain, and facilitate their trading. The assets being tokenized in the pilot program include: - Microsoft stock - Circle stock - Invesco QQQ ETF - SPDR S&P 500 ETF - iShares 0-3 Month Treasury Bond ETF - U.S. Treasurys Based on the pilot, the DTCC intends to officially launch its tokenization service in October. Following the launch, financial institutions that deposit assets with the DTCC will be able to convert some of their securities into tokens.