The Depository Trust and Clearing Corporation (DTCC) announced the results of its blockchain securities settlement pilot, one of which is a distributed ledger (DLT) for simulating central bank digital currency (CBDC), and the other is for processing tokenized securities on a digital settlement network, aiming to evaluate the use of digital dollars and distributed ledgers for DvP settlement in the U.S. wholesale market.
The relevant pilot involves cash custody, that is, cash anchored with the digital dollar needs to be held in custody until settlement occurs. The market participants in this pilot include Bank of America, Citi, Nomura Securities, Northern Trust, State Street Bank, Virtu Financial and Wells Fargo. (Planet Daily)