On June 12th, it was reported that the Securities Depository Trust Corporation (DTCC), an important component of the global financial infrastructure and responsible for handling the clearing and settlement of almost all stock transactions in the United States, is exploring the issuance of a stablecoin backed by the US dollar.
According to sources familiar with the matter, DTCC is currently in the early stages of evaluating whether to launch a stablecoin, which may facilitate cross-market transaction settlements and asset transfers. However, sources said that DTCC will not proceed with this matter unless the US Congress passes legislation providing a regulatory framework for stablecoins. At present, DTCC has not publicly commented on this report and has not announced the relevant timetable.
DTCC plays a core role in the financial infrastructure of the United States and processes $200 trillion in securities transactions every year. The institution has previously carried out pilot projects involving distributed ledger technology and tokenized collateral, including plans involving US Treasury bond assets. This move to explore the issuance of stablecoins aligns with DTCC’s existing work in digital asset infrastructure and its interest in programmable currencies and near-instant settlement.
With the improvement of the regulatory environment, stablecoins have been receiving increasing attention and recognition in the traditional financial sector, especially in the United States, where they have drawn more attention from American legislators. At present, the US Congress is reviewing a number of legislative proposals, including those concerning reserve requirements, issuer supervision and auditing requirements, etc. Industry participants urged lawmakers to provide clear regulations to enable regulated entities to issue or adopt stablecoins in financial markets.
If DTCC gets involved in stablecoin development, it may mark a significant step for institutions in adopting blockchain-based settlement methods. But for now, the company’s plan seems to have been temporarily put on hold as it awaits clear supervision from Washington.
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