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DTCC Explores Issuing USD Stablecoin to Modernize Clearing Rails
- Depository Trust & Clearing Corporation (DTCC) is looking into creating a USD stablecoin to expedite transaction settlements in financial markets.
- DTCC is considering issuing its own stablecoin or partnering with third parties, pending regulatory clarity.
- The stablecoin aims to enhance settlement speed by enabling transactions on DTCC's clearing network without the need for traditional banking transfers.
- DTCC has been involved in Project Ion since 2022, a blockchain-based settlement system processing over one million transactions daily.
- Internationally, Ant International plans to apply for a stablecoin license in Hong Kong, in anticipation of upcoming regulatory enforcement.
- Ant is also exploring licensing in Singapore and Luxembourg, indicating a global interest in stablecoin adoption.
- Galaxy Digital supports stablecoins linked to US Treasuries and advocates for legislative acts like GENIUS and CLARITY to drive stablecoin integration in payment systems.
- DTCC may trial its stablecoin on Project Ion if regulatory approval is granted, potentially enabling almost real-time settlements in stock transactions.
- Stablecoins could significantly streamline financial processes but their fate in the US hinges on regulatory decisions from Washington.
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