According to Cointelegraph, the Depository Trust & Clearing Corporation (DTCC), the top U.S. clearinghouse for securities transactions, has declared its support for Ethereum’s ERC-3643 standard for permissioned security tokens. This announcement, made on March 20, underscores DTCC’s membership in the ERC3643 Association, a nonprofit group dedicated to increasing adoption of this token standard.
DTCC’s endorsement reflects growing regulatory acceptance of tokenization in the United States, aligning with former President Donald Trump’s ambition to establish the country as the global leader in crypto. This advancement suggests that the Ethereum blockchain may serve as a fundamental infrastructure for permissioned security tokens in the U.S. financial ecosystem. Dennis O’Connell, president of the ERC3643 Association, emphasized DTCC’s pioneering role in tokenization and its commitment to driving institutional adoption.
Known as the T-REX Protocol, ERC-3643 is a set of open-source smart contracts designed to enable the issuance, management, and transfer of permissioned tokens, even on public blockchains. It employs a decentralized identity verification system, ensuring that only authorized individuals can hold these tokens.
Under the oversight of the U.S. Securities and Exchange Commission (SEC), DTCC has been proactive in integrating blockchain technology. In 2023, it processed a staggering $3 quadrillion in transactions, as outlined in its annual report. The company has explored onchain securities transactions, including settling tokenized U.S. Treasury Bills on the Canton Network and experimenting with private asset tokenization on an Avalanche (AVAX) subnet.
In February 2025, DTCC introduced ComposerX, a platform designed to streamline token creation and settlement for regulated financial institutions. Additionally, in November 2024, the Commodity Futures Trading Commission (CFTC)—a key U.S. financial regulator—revealed plans to assess onchain settlement solutions for the derivatives market.
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