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DTCC Launching Tokenization for $114T Asset Market This July

Just-in-time account funding may be right around the corner as tokenization provides real-time capabilities.

Banks, broker-dealers, and clearing agencies could soon reduce capital buffers as Depository Trust & Clearing Corporation (DTCC) moves closer to operationalizing tokenization through its subsidiary, Depository Trust Company (DTC).

The DTC—which provides book-entry custody for more than $114 trillion in assets, such as municipal bonds, corporate bonds, corporate stocks, and money market instruments from the U.S. and more than 131 other countries and territories—expects to launch a limited first phase of its tokenization service in July. The full service is scheduled to roll out in October.

In December 2025, the U.S. Securities and Exchange Commission (SEC) granted the industry utility permission for a three-year pilot to process highly liquid assets, including components of the Russell 1000 Index, exchange-traded funds that track other major U.S. indices, and various Treasuries. The intent is to give tokenized securities the same entitlements, protections, and ownership rights as assets currently held in DTC custody.

“Our vision is coming to fruition,” said Frank La Salla, president and CEO of DTCC, in Monday’s announcement. “Tokenization has the potential to reshape market structure by improving liquidity, transparency and efficiency.”

Standards Aligned

Tokenization—which creates a digital representation of a tangible asset like real estate or municipal bonds—is no longer just a finance-sector buzzword. More companies are weaving tokens into their corporate finance strategies, using them in a wide array of instruments, including smart contracts, stablecoins and tokenized U.S. Treasury bills.

The DTCC developed the tokenization platform in collaboration with the DTCC Industry Working Group, which includes more than 50 custodians, asset managers, broker-dealers, and market infrastructure providers across traditional and decentralized finance. The group is focused on aligning standards and preparing market participants for new operational and settlement workflows.

Despite the infrastructure milestone, the near-term implications for corporate treasurers may be limited.

“I don’t see a material benefit yet for CFOs,” said David Easthope, senior analyst and head of fintech research at Coalition Greenwich. “The more immediate value proposition is coming from stablecoins, not tokenized securities.” He added that the benefits for issuers, and their representatives like CFOs and treasurers, “are much further out in the tech cycle that we are in.”

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THE RESIGNATION OF JIM WRIGHT : Home District Mourns Loss of a Major Asset

In the city that Jim Wright represented for 34 years, the House Speaker’s resignation Wednesday prompted fear, sorrow and anger at Republicans.

“Anybody who knows anything of the American political process knows the loss of the speakership is a major loss for this area,” said Mayor Bob Bolen, whose city has long counted Wright as a major asset in attracting defense jobs.

Officials said it may be impossible to rebuild the political power or match the economic gain the region enjoyed from Wright’s 34-year tenure and his leadership in the Democratic Party.

“We just lost our right arm in Ft. Worth,” state Rep. Doyle Willis, who represents the city in the Texas House, said in Austin. “I think he got a dirty Republican deal. I think they were after him, and they finally got him.”

In Wright’s 12th Congressional District, people gathered around televisions in an electronics shop to watch his resignation speech.

“I think it’s horrible,” Lynn Bratcher said. “He’s the only one I could call on for help when I needed help. . . . He’s the only one that has ever really done anything for anyone for Texas.”

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North Korea launches rockets amid U.S. asset redeployment

North Korean leader Kim Jong Un (R) and his daughter Kim Ju Ae watching a live feed of a strategic cruise missile test-fire from the naval Destroyer Choe Hyon at an undisclosed location in North Korea, 10 March 2026 (issued 11 March 2026). According to KCNA, the test aimed to verify the reliability of the national strategic control system, the destroyer’s detection and weaponry, and the overall combat effectiveness of its integrated systems. KCNA / EPA

March 15 (Asia Today) — North Korea conducted a large-scale rocket artillery test shortly after key U.S. air defense assets stationed in South Korea were redeployed to the Middle East, a move analysts say may have been intended to test potential security gaps on the Korean Peninsula.

North Korea fired more than 10 ballistic missiles and conducted a saturation strike drill using 600-millimeter multiple rocket launchers, according to state media.

The Korean Central News Agency said the exercise took place Friday under the supervision of leader Kim Jong Un, who was accompanied by his daughter Ju Ae.

The rockets struck targets on islands in the East Sea roughly 364 kilometers away with what the report described as “100% accuracy.”

The launch involved the simultaneous firing of 12 rockets from the super-large multiple rocket launcher system, one of Pyongyang’s most powerful short-range strike platforms.

Kim said the weapons were capable of striking hostile forces within a 420-kilometer range and emphasized their potential to deliver the destructive power of tactical nuclear weapons.

Military analysts said the drill also showcased improvements to the launcher system.

A new five-tube wheeled launcher appeared designed to reduce vibration during firing, while the time required to raise the launcher to firing position was reportedly shortened to less than one minute.

The changes would allow faster deployment and rapid relocation after firing, a tactic commonly known as “shoot and scoot.”

The approach is intended to help launch units evade detection and counterstrikes by South Korean and U.S. forces.

Experts say the tactic could complicate efforts by the allied kill chain system designed to detect launches and rapidly strike missile sites.

The missile launches came after reports that key U.S. missile defense systems previously deployed in South Korea – including the Terminal High Altitude Area Defense system and Patriot batteries – were partially redeployed to support U.S. operations in the Middle East amid the conflict with Iran.

Analysts say the timing suggests North Korea may be attempting to test the readiness of South Korean and U.S. forces during a period when U.S. assets are being shifted to other theaters.

Yang Moo-jin, a professor at the University of North Korean Studies in Seoul, said the exercise appeared designed to assess South Korea’s military preparedness while amplifying concerns about regional security.

The missile launches also occurred ahead of U.S. President Donald Trump’s scheduled visit to China later this month.

Some analysts say Pyongyang may be signaling its preference for direct negotiations with Washington rather than talks mediated by Seoul.

North Korea has increasingly framed relations with South Korea in terms of “two hostile states,” a position that reflects its strategy of engaging the United States while sidelining the South Korean government.

Lim Eul-chul of Kyungnam University’s Institute for Far Eastern Studies said North Korea may view the shifting deployment of U.S. forces as evidence of a more transactional alliance structure under the Trump administration.

“If Pyongyang believes U.S. forces can be redeployed elsewhere depending on strategic priorities, it may attempt to exploit that perception by conducting more aggressive military tests,” Lim said.

— Reported by Asia Today; translated by UPI

© Asia Today. Unauthorized reproduction or redistribution prohibited.

Original Korean report: https://www.asiatoday.co.kr/kn/view.php?key=20260315010004203

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