According to Digital Asset, on July 15 the U.S. Securities Depository and Clearing Corporation (DTCC) officially launched the first limited on-chain/physical spot trading of tokenized real-world assets (RWA). This test used tokenization services from DTCC’s depositary organization (DTC) to validate operational and technical processes in a real production environment, rather than a simulated environment. Previously, an industry working group made up of more than 50 traditional financial institutions and digital asset companies, including BlackRock, JPMorgan, and Goldman Sachs, had participated in service development and interoperability testing. DTCC currently has assets under custody totaling $114 trillion, and its long-term goal is to move the processing of core financial assets such as U.S. stocks, ETFs, and U.S. Treasuries onto digital infrastructure.