Morgan Stanley has begun converting U.S. stocks and Treasury debt into digital tokens through the Depository Trust & Clearing Corporation (DTCC), according to a Nov. 3 announcement by the bank. The tokens are digital representations of securities held by the depository, mapped down to their individual CUSIP identifiers.
The move marks a significant step in tokenizing traditional financial assets at scale, leveraging DTCC's existing role as the central securities depository for most U.S. equities and government bonds.
Morgan Stanley Turns U.S. Stocks and Treasuries Into Digital Tokens via DTCC
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