According to a report by Golden Finance on June 12th, informed sources disclosed that a company located at the core of the US financial system but not widely known to the public – the Securities Depository Trust Company (DTCC) of the United States – is exploring the issuance of a stablecoin. This measure might accelerate the application pace of digital assets in various markets.
The Securities Depository Trust Company of the United States is mainly responsible for handling the clearing of stock transactions in the United States. Currently, stablecoins are gradually attracting the attention of the world’s top financial institutions. If DTCC successfully issues a stablecoin, it is expected to open up a new path for the application of stablecoins in the clearing and settlement fields, further enhancing transaction efficiency and reducing transaction costs. However, the company has not yet released an official statement to confirm this plan. It is reported that DTCC is waiting for the United States to introduce corresponding regulations to provide a clear regulatory framework for stablecoins before taking the next step.
Recently, US lawmakers are reviewing two important bills related to stablecoins, namely the “GENIUS Act” and the “Stable Act”. Both of these bills impose strict transparency and information disclosure requirements on stablecoin issuers, stipulating that stablecoins must be backed by cash and other liquid assets at a ratio of 1:1. Although these rules will bring certain compliance pressure to the issuers, they can also provide legal protection for them and make supervision more explicit. Many analysts predict that once these bills are passed, more established financial institutions will enter the stablecoin market.
Previously, Circle, the largest stablecoin issuer in the United States, successfully conducted its initial public offering (IPO) and went public. Within just one week after going public, the company’s stock return rate exceeded 271%, bringing a fourfold return to private investors like Sigil. Issuers like Circle earn profits by investing stablecoins in short-term government bonds. The more stablecoins they issue, the higher the profits. Take Circle as an example. Its gross interest income is as high as 3 billion US dollars. This simple yet profitable business model is increasingly attractive to traditional financial institutions. Industry giants such as Visa, Mastercard and JPMorgan are all exploring the issuance of their own stablecoins. In addition, large technology companies are also considering similar actions. Apple, X (formerly Twitter), Google and Airbnb, among others, all have the potential to become stablecoin issuers. On June 12th, Chinese tech giant Ant International also began to enter the stablecoin field and has applied for relevant licenses in Hong Kong, Singapore and Luxembourg.
At present, DTCC’s exploration of stablecoins is still in the evaluation stage, and the specific implementation plan is still under study. However, in any case, this news has already drawn widespread attention in the financial and cryptocurrency sectors, and its future development trends are worth continuous tracking.
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