The Depository Trust & Clearing Corporation (DTCC), which handles the clearing and settlement of almost all US stock trade, investigates the issue of a Stablecoin supported by the US dollar, the information reported On June 12, with reference to sources that are familiar with the case.
According to the report, DTCC is in the early stages of evaluating whether a stablecoin should be launched that could facilitate the control of transactions and the relocation of assets in markets.
However, the sources said that the DTCC would not take place, unless the Congress approves legislation with a regulatory framework for Stablecoins.
They have not announced a timeline and DTCC did not publicly comment on the report.
Quadrillions in volume
DTCC plays a central role in the American financial infrastructure and processes $ 2 quadrillion on securities transactions annually.
The organization has previously carried out pilot programs with distributed ledger technology and Tokenized collateral, including initiatives with American Treasury activa.
The reported initiative comes in the midst of a growing push of large financial institutions to explore Stablecoins and tokenized cash as part of broader strategies for digital transformation.
While the possible use cases for a Stablecoin issued by DTCC are being taken into consideration, the efforts in accordance with the existing work of the company are closing digital assets infrastructure and its interest in programmable money and near-instant settlement.
Spirit of the financial spirit
Stablecoins see increasing traction and interest in traditional financing in the midst of the improving regulatory landscape, especially in the US where they have attracted more attention from American legislators under the government of President Donald Trump.
Several legislative proposals, including those aimed at reserve requirements, supervision of emennial and audit mandates, are currently being revised in the congress.
Participants in the industry have encouraged legislators to provide clarity to enable regulated entities to publish stablecoins or to assume on financial markets. Both legislators and financial supervisors have submitted their position in relation to digital assets and their integration with traditional finances.
Various global lenders, including Bank of America and Societe Generale, promote their own Stablecoin initiatives and reflect a growing institutional shift to digital assets. Visa and Mastercard have also placed cross-border payments and treasury operations using stablecoins such as USDC.
The involvement of DTCC in the development of the Stablecoin can mean an important shift to institutional acceptance of blockchain-based scheme. For now, however, the plans of the company appear pending legal security from Washington.
