Hey, it's Marc.

I always assumed crypto would tokenize Wall Street. Turns out Wall Street is doing it itself. DTCC settles every U.S. equity and Treasury trade, holds $100T in custody, and once cleared $5.55T in a single day. In H2 2026, that plumbing goes on-chain with the SEC's blessing. Let's get into it. [ARTICLE]

The Signal: DTCC is attempting to build a structure for tokenization on legal infrastructure that already works. This is an American infrastructure upgrade from the inside.

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What happened

DTCC has been quietly assembling the pieces for two years. In April, it told the market what it built.

It started with a December 2025 SEC no-action letter granting DTC a three-year exemption from Reg SCI, Section 19(b) rule-filing requirements, and key clearing standards under Rules 17Ad-22 and 17Ad-25. That cleared the regulatory path. [RELEASE]