Wall Street Giant DTCC Announces Partnership with a Surprise Altcoin! Price Rises Instantly!

DTCC, an American financial market infrastructure company, has selected Canton Network as its tokenization partner.

According to CoinDesk, the US Depository Trust & Clearing Corporation (DTCC) announced that it has selected the privacy-focused network Canton Network as a partner for its tokenization initiative.

This partnership will enable the tokenization of a portion of U.S. Treasury bonds held by Depository Trust Company (DTC), a DTCC subsidiary, on the Canton Network. This will allow traditional financial assets to be digitized, leveraging the efficiency and transparency advantages offered by blockchain technology.

DTCC CEO Frank LaSalla said the following about the partnership:

“DTCC’s partnership with Canton Network is a strategic step taken as we collaborate across the industry to create a digital infrastructure that seamlessly bridges traditional and digital financial ecosystems, delivering unparalleled scalability and security.”

One of the most important reasons behind this partnership was the “Letter of Inaction” that DTCC recently received from the U.S. Securities and Exchange Commission (SEC).

Following the news, Canton Network’s native token, CC, surged.

Tokenization continues to spread recently, and earlier this week, JPMorgan made a move. According to the announcement, JPMorgan’s $4 trillion asset management division will launch the first tokenized cryptocurrency market fund on the Ethereum blockchain. Initially, JPMorgan will back the fund with $100 million of its own capital, and will later open it to external investors.