DTCC Runs First Production Trades With Tokenized Stocks (MC 7/16)

DTCC runs first production trades with tokenized stocks and treasuries

Ep 40: Blockchains Are the Fourth Generation of Payment Rails w/ Mark Frey & Keith Vander Leest

Product launches, partnerships and funding news from Cyclops, Velocity, Gauntlet, Glacis Labs, Infinia, Pact Labs, Stripe, UBS, Swift, Visa and more.

Seven months from authorization to production. Seven months after DTC received its SEC no-action letter, DTCC processed real production trades across workflows spanning financing, settlement, collateral and risk management and is targeting an October launch. Supporting that breadth at this pace stands out for an organization typically known for its conservatism and operating at a scale where its subsidiaries processed $4.7 quadrillion in securities transactions last year.

Multi-chain from the start. DTCC ran conversions on private Hyperledger Besu and public Canton as part of its multi-chain strategy to ensure resiliency, scalability and choice. This is strong production validation for the Canton Network, and I'm keen to see whether DTCC will add more networks, especially if today's permissionless blockchains can offer privacy and permissioning solutions at scale.

October is the adoption test. The next questions are how much volume moves, which workflows stick and what new uses emerge as the service moves beyond this 30-plus-firm production initiative.

"No one's really asking for stablecoins": what corporates actually request, and who decides which rail a payment rides

The generation skip: the markets where Corpay will jump from SWIFT straight to blockchain, past two generations of rails

"Why are we talking about yield on balances?": Keith's 100x case against the yield-on-idle-cash conversation

Cyclops raises $20 million Series A to help payment companies settle with stablecoins (read more)

Dragonfly and FirstMark lead $38 million Series A for stablecoin startup Velocity, with support from Coinbase and Ripple (read more)

Gauntlet raises $125 million from SBI Holdings (read more)

Glacis Labs raises $6.8 million seed to expand ZeroDelta platform (read more)

Infinia raises $13.5 million Series A led by Bain Capital and Variant Fund (read more)

Stripe mounts $53 billion bid to acquire PayPal (read more)

Tether leads $7 million Series A in Pact Labs to expand USA₮ across payroll and payments (read more)

Aave opens referral-based waitlist for upcoming savings app (read more)

Aave introduces Stable Vaults to embed fixed-rate stablecoin yields into financial products (read more)

Binance Wallet adds Plume yield vault with access to Invesco and Bitwise funds (read more)

Cantor and Securitize collaborate on blockchain-based IPOs (read more)

Dinari and tZERO partner on turnkey platform for tokenized U.S. equities (read more)

DTCC begins first tokenized stock and Treasury production trades involving JPMorgan, BlackRock and Goldman Sachs (read more)

ECB selects firms including Deutsche Bank and Revolut for digital euro pilot (read more)

EthSystems, an Ethereum Foundation spinout, targets banks with blockchain privacy technology (read more)

Grove and Galaxy Digital launch $500 million warehouse lending facility for onchain institutional loans (read more)

Hyundai Card tests stablecoin remittances for businesses (read more)

JCB taps Circle to bring stablecoins to 40 million merchants (read more)

Kraken Institutional taps Upshift to build vaults earning yield on idle bitcoin, ETH and stablecoins (read more)

Lawson pilots stablecoin payments with JPYC (read more)

LemFi taps BVNK to move remittances onto stablecoin rails (read more)

SBI Holdings partners with Solana Foundation to build Japan-based onchain financial market (read more)

SBI Holdings to launch JPYSC stablecoin lending service (read more)

SCB becomes first respondent bank live on Citi tokenized deposit clearing solution (read more)

Swift readies blockchain ledger for 17 banks to pilot tokenized cross-border payments (read more)

Tradable plans to bring $1 billion of private credit assets to Stellar (read more)

UBS executes first global stablecoin payments with Merge in cross-border pilot (read more)

Visa, Mastercard and Ripple back x402 as agent payments average 32 cents (read more)

Visa launches new platform to provide stablecoin services to more than 200 million merchants (read more)

Bolivia weighs adding Tether's USDT to its national payments system (read more)

Circle receives final OCC approval to establish national trust bank (read more)

EU Parliament backs stablecoin multi-issuance, dismissing ban proposal (read more)

Japan's parliament passes law amendment to reclassify cryptocurrency as financial assets (read more)

Kazakhstan president signs decree to accelerate crypto adoption (read more)

President Trump expected to meet with senators over ethics concerns in crypto bill (read more)

Reserve Bank of India still favors crypto prohibition to curb tax evasion (read more)

Sony gets conditional approval for U.S.-based stablecoin bank (read more)

South Korea to modify 76-year-old law to classify cryptocurrencies as national assets (read more)

UK sets out vision for wholesale digital markets as tokenization targets £33 billion in economic benefits (read more)

U.S. and UK move to align rules for tokenized finance across the world's largest financial markets (read more)

U.S. Treasury freezes more than $130 million tied to Iran-linked crypto wallets (read more)