Citi and DTCC: Tokenized collateral technology is mature, regulatory lag is the main obstacle

Jinse Finance reported that at the SmartCon conference in New York, executives from Citi, the Depository Trust & Clearing Corporation (DTCC), and Taurus stated that cross-asset tokenized collateral has already been tested and implemented in many regions globally, but regulatory frameworks have yet to keep pace with technological advancements. Ryan Rugg, Head of Digital Assets at Citi, pointed out that their "Citi Token Services" system is now live, supporting real transactions such as supply chain payments and capital markets settlements, with transaction volumes reaching several billions of dollars. However, due to the lack of unified legal standards across jurisdictions, global expansion has been slow. Nadine Chakar, Head of Digital Assets at DTCC, stated that the recent "Great Collateral Experiment" validated that tokenized government bonds, stocks, and money market funds can be used as collateral across time zones, but the real bottleneck lies in legal enforceability and market trust, rather than the technology itself. Lamine Brahimi, Co-founder of Taurus, called on the United States to follow Switzerland's example and establish a nationwide unified legal and technical framework for tokenized assets, otherwise the financial system will face fragmentation and compliance risks.