SEC Greenlights Blockchain for Stock Trades

The SEC has approved a three-year pilot program for the Depository Trust Company (DTCC) to test blockchain technology for recording stock trades. This is a first for the U.S. financial market, aiming to improve efficiency. The DTCC can create digital twins of existing securities on a blockchain, with participants choosing to convert their entitlements. The program will provide quarterly reports and could reduce reconciliation needs, allowing transfers outside normal hours while maintaining safeguards.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.