- The Depository Trust and Clearing Corporation (DTCC), which processed roughly $3.7 quadrillion in securities transactions last year, has now begun clearing trades 24 hours a day on business days.
- This move significantly erodes a key crypto industry selling point by bringing near-continuous trading to traditional finance equities markets.
- The DTCC has consistently favored private, permissioned ledgers for its initiatives, disappointing crypto fans who hoped for integration with public blockchains like the XRP Ledger.
The world’s largest clearinghouse, the Depository Trust and Clearing Corporation (DTCC), has launched 24-hour clearing operations for its equities subsidiary this week, fundamentally challenging a long-held cryptocurrency narrative. This expansion allows its National Securities Clearing Corporation (NSCC) engine to process trades continuously through every business day.
Consequently, crypto’s “always-on” value proposition is now reduced to just two extra days of operation compared to traditional finance’s new schedule. However, the clearinghouse admitted that some supporting systems will still take a nightly one-hour technical pause.
For years, crypto promoters argued digital assets were superior because they traded non-stop while traditional markets closed. Meanwhile, the DTCC‘s shift to 24×5 operations arrived in stages after the SEC approved the rule change and client testing began earlier this year. Major exchanges like Nasdaq are expected to add overnight sessions later.
Despite this, some crypto fans attempted to frame the news positively for tokenization. Conversely, the DTCC has no obligation to use a public blockchain and has historically chosen its own private infrastructure. For instance, it launched the private Project Ion in 2022.
More recently, it partnered with Digital Asset to tokenize US Treasuries on the permissioned Canton Network in late 2025. This choice was criticized by public blockchain developers for its lack of transparency.
Therefore, the 24-hour market launched without any public blockchain integration. XRP, the token most tied to DTCC fantasies, was trading at $1.05 at the time of writing, down significantly over the past year. Traditional finance’s monumental upgrade proceeded on its established rails, leaving crypto enthusiasts watching from the sidelines.
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