Wall Street back-office giant DTCC mulls stablecoin integration: report

The Depository Trust & Clearing Corporation (DTCC), a cornerstone of global financial infrastructure, is reportedly developing a stablecoin, according to The Information. Such a move would signal DTCC’s growing interest in digital assets, a sector led internally by Nadine Chakar, Global Head of Digital Assets.

DTCC has not publicly commented on the report. The Securities and Exchange Commission (SEC)-registered company provides post-trade clearance, settlement, custody, and information services. Along with its subsidiaries, DTCC processes quadrillions of dollars in securities transactions each year.

In a recent blog post, DTCC noted the "increasing use cases for stablecoins," including "for corporate cross-border treasury management and payment systems."

"Stablecoins are emerging as an alternative settlement mechanism, as a means for payment efficiency and a definitive use case for blockchain technology," the firm wrote. "Through updating payment infrastructures, stablecoins are now a payment option within various segments of the ecosystem, from retail cross-border transactions to securities settlement." 

The Block has reached out to a DTCC representative for comment.

This would not be the DTCC’s first foray into blockchain infrastructure. In April, DTCC unveiled its AppChain tokenized collateral management platform, which is used to bridge traditionally "siloed" systems. 

It is also not the only institution looking at stablecoins to improve global financial rails. For instance, banks such as Societe Generale and Bank of America have been investigating launching dollar-pegged tokens, largely driven by recent progress on the GENIUS Act which would standardize stablecoin regulation in the U.S. 

U.S. Treasury Secretary Scott Bessent said in a Wednesday Senate hearing that the U.S. dollar-backed stablecoin market has the potential to surpass $2 trillion in the next three years.