Exclusive
Financial Markets Giant DTCC Explores a Stablecoin
A possible new token from DTCC, which is owned by finance’s biggest players, depends on a bill moving through Congress.
A little-known company at the heart of the U.S. financial system is exploring issuing a stablecoin that could accelerate the use of digital assets across markets, according to people with knowledge of its plan.
The Depository Trust and Clearing Corp., the clearinghouse that processes U.S. stock trades, would consider issuing a stablecoin if legislation legitimizing the tokens is approved in Washington, the people said. The DTCC, which is owned by the nation’s banks, brokers and fund companies, is evaluating whether stablecoins could make settling trades involving traditional assets more efficient.