Ondo has been selected for the DTCC industry working group to participate in the design of tokenization standards for the U.S. capital markets

According to official news, the Depository Trust & Clearing Corporation (DTCC) in the United States has announced the establishment of an industry working group to advance the tokenization process of the U.S. capital markets. Ondo has been selected for this working group and will collaborate with institutions from both traditional finance and decentralized finance, including BlackRock, Goldman Sachs, JPMorgan Chase, Franklin Templeton, Morgan Stanley, Bank of America, Citadel Securities, the New York Stock Exchange, Circle, Fireblocks, and Robinhood in the design process.

DTCC holds assets exceeding $114 trillion, with an annual clearing total of $3.7 trillion. It is currently building a tokenization service aimed at bringing the core processes of the U.S. capital markets on-chain. DTCC President and CEO Frank La Salla stated, "We believe that tokenization will significantly change the way markets operate, bringing new levels of liquidity, transparency, and efficiency to investors."