SWIFT, DTCC, Broadridge, and regulators advance tokenization across banking and securities infrastructure with major pilots and regulatory clarity.
Regulation & Gov ·
SWIFT's blockchain infrastructure for 24/7 cross-border payments has reached operational readiness, with 17 banks across six continents preparing to execute live transactions using tokenized deposits. Separately, the Depository Trust and Clearing Corporation is moving its tokenization service into limited production this month ahead of a full October rollout, bringing together over 50 participants including Ondo, BlackRock, and JPMorgan. Broadridge's distributed ledger repo system achieved $7.5 trillion in transaction volume during June—averaging $357 billion daily and representing 68 percent year-over-year growth—positioning it among the largest operational blockchain deployments in the financial sector. Circle has obtained final regulatory approval from the OCC to launch Circle National Trust, a federally chartered institution designated to manage USDC custody, with reserve management operations slated as a later addition.
The SEC's 2026 regulatory calendar now encompasses three rulemaking initiatives addressing crypto assets, specifically targeting capital raising, custody arrangements, and tokenized-securities trading, with proposed rules anticipated as early as this month. Ondo has separately activated continuous trading on Solana, enabling users to mint and redeem tokenized equity products at any time, including weekends and overnight hours, providing real institutional liquidity access around the clock.
What remains uncertain is the pace at which full production deployments will proceed following these pilot phases and whether regulatory frameworks will align across jurisdictions to support seamless cross-border settlement on these emerging infrastructure layers.