The Depository Trust & Clearing Corporation (DTCC), which handles the clearing and settlement of nearly all U.S. stock trades, is exploring the issuance of a U.S. dollar-backed stablecoin, The Information reported on June 12, citing sources familiar with the matter.
According to the report, DTCC is in the early stages of evaluating whether to launch a stablecoin that could facilitate the settlement of trades and movement of assets across markets.
However, the sources said the DTCC would not proceed unless Congress passes legislation providing a regulatory framework for stablecoins.
They did not disclose a timeline and DTCC has not publicly commented on the report.
Quadrillions in volume
DTCC plays a central role in U.S. financial infrastructure, processing $2 quadrillion in securities transactions annually.
The organization has previously run pilot programs involving distributed ledger technology and tokenized collateral, including initiatives involving U.S. Treasury assets.
The re
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