According to the report, DTCC is in the early stages of evaluating whether to launch a stablecoin that could facilitate the settlement of trades and movement of assets across markets.
However, the sources said the DTCC would not proceed unless Congress passes legislation providing a regulatory framework for stablecoins.
They did not disclose a timeline and DTCC has not publicly commented on the report.
DTCC plays a central role in U.S. financial infrastructure, processing $2 quadrillion in securities transactions annually.
The organization has previously run pilot programs involving distributed ledger technology and tokenized collateral, including initiatives involving U.S. Treasury assets.
The reported initiative comes amid a growing push by major financial institutions to explore stablecoins and tokenized cash as part of broader digital transformation strategies.
While the potential use cases for a DTCC-issued stablecoin remain under consideration, the effort aligns with the firm’s existing work on digital asset infrastructure and its interest in programmable money and near-instant settlement.
Industry participants have urged lawmakers to provide clarity to enable regulated entities to issue or adopt stablecoins in financial markets. Both lawmakers and financial regulators have softened their stance toward digital assets and their integration with traditional finance.
DTCC’s involvement in stablecoin development could mark a significant shift toward institutional adoption of blockchain-based settlement. For now, however, the company’s plans appear to be on hold pending regulatory certainty from Washington.
