DTCC officially launches tokenization service, initially supporting 34 stocks

The Depository Trust & Clearing Corporation launched a tokenization service on Oct. 28, initially supporting 34 stocks. The stock tokens are backed one-to-one by securities held at the Depository Trust Company, and holders have the same legal and economic rights as they do with the underlying securities. The service also offers near-real-time ownership tracking. At launch, the tokenization service supports Besu and Canton Network (CC). Nine companies, including BitGo, Blockdaemon and Fireblocks, joined as initial partners.