A $100tn TradFi giant just gave crypto a huge boost. ‘Never seen anything move as quickly’

Core Insights - The Depository Trust & Clearing Corporation (DTCC) is set to tokenize US Treasury securities on the Canton Network, marking a significant endorsement of cryptocurrency by traditional finance [1][2] - This initiative reflects a broader trend where traditional financial institutions are increasingly engaging in tokenization efforts, with the market for real-world assets on blockchains projected to reach $410 billion by 2025 [3] Group 1: Tokenization and Blockchain Adoption - The move to tokenize assets is seen as a major advancement for blockchain technology, following recent regulatory approvals from the SEC for asset tokenization [3][6] - The Canton Network is designed to align with existing market operations and regulatory frameworks, aiming for secure scalability at institutional levels [2] Group 2: Industry Reactions - Some industry experts express concerns that the choice of the Canton Network may reinforce existing intermediaries like DTCC and Broadridge, which could hinder the disruptive potential of tokenization [4][5] - Critics argue that the primary goal of tokenization should be to eliminate intermediaries, and the permissioned nature of Canton may undermine this objective [5]