- DTCC CEO Frank La Salla revealed the organization is working with multiple Layer 1 blockchains for its tokenization platform.
- Initial transactions are slated for July, with a full rollout planned for October.
- The platform currently supports an Ethereum-compatible AppChain and the Canton Network, but is evaluating others based on SEC criteria.
- The organization needs “high performance L1s” to handle millions of daily dividend payments.
- DTCC is also exploring a purpose-built, yet-to-launch Layer 1 with other institutions.
At the Consensus event yesterday, DTCC CEO Frank La Salla announced that the organization is actively collaborating with several Layer 1 blockchains. This partnership is for its forthcoming tokenization platform, which will commence initial transactions this July. Consequently, a full rollout is scheduled for October.
So far, the platform supports DTCC‘s own Ethereum-compatible AppChain and the Canton Network. However, a SEC no-action letter received in December established criteria for evaluating additional chains. “We’re working with some very good L1s right now who are focused on the ability to process at faster rates,” said La Salla.
He emphasized the need for high-performance networks to handle massive transaction volumes. Specifically, DTCC processes millions of dividend payments daily for the financial industry. Meanwhile, the organization has previously disclosed it is exploring a purpose-built, yet-to-launch Layer 1 alongside other institutions.
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