Mirae Asset Securities’ New York subsidiary has signed a tokenization service usage agreement with DTCC, a U.S. financial market infrastructure institutional investor, marking its expansion into the digital asset business.
The brokerage said that its New York subsidiary had concluded an agreement to use DTCC’s “Tokenization Service (DTCC Tokenization Service, DTS).”
DTC, DTCC’s depository subsidiary, officially launched DTS on the 28th (local time). Mirae Asset Securities’ New York subsidiary is one of 20 financial institutions that signed usage agreements at the time of the service launch. Global financial firms such as JPMorgan, Morgan Stanley, Bank of America, Citi, and Fidelity were included among the initial participants.
Through its participation in this service, Mirae Asset Securities plans to broaden the potential applications of tokenized securities. DTS is a service that implements rights to eligible securities deposited with DTC as blockchain-based tokens.
It supports conversion between conventional securities and tokenized securities while maintaining ownership, economic rights, and investor protection frameworks for existing securities. This enables the transfer of rights to securities via digital wallets and supports asset mobility and interoperability.
Mirae Asset Securities intends to gradually identify business opportunities to enhance the collateral utility and capital efficiency of tokenized securities.
A Mirae Asset Securities official stated, “Our participation in DTS will serve as an opportunity to expand the potential applications of tokenized securities, based on experience accumulated in the U.S. capital markets and a foundation for cooperation with global financial institutions.” The official added, “We plan to connect traditional finance with digital assets while also exploring utilization methods linked to our existing businesses.”
DTCC is a global financial market infrastructure institutional investor that supports post-trade processing functions such as clearing, settlement, and depository services for securities transactions. The scale of assets deposited with its subsidiary DTC exceeds 114 trillion dollars.
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