Morgan Stanley starts tokenising US securities through DTCC

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Morgan Stanley has tokenised US equities and Treasurys using a new service from the Depository Trust & Clearing Corporation (DTCC), becoming one of its first institutional users.

The bank joined the platform shortly after its launch last week. Amy Oldenburg, Morgan Stanley’s head of digital assets strategy, said working with tokenised securities through established market infrastructure would help the firm develop its digital asset business.

The service is operated by DTCC subsidiary the Depository Trust Company, which holds $114 trillion in assets under custody. Twenty financial institutions joined at launch, including Bank of America, Barclays, BNP Paribas, Citi, Fidelity Investments, JPMorgan, State Street and UBS. DTCC plans to add more participants over time.