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Crypto

DTC seeks to cut stock registration transfer processing time from days to minutes

The Depository Trust Company has filed a proposal with the U.S. Securities and Exchange Commission to revamp its Direct Registration System with the goal of cutting stock registration transfer processing times from days to minutes. The plan focuses on automating procedures by reducing batch processing and manual steps. Under the proposal, DTC’s securities processing application would automatically create orders and reflect shares in participants’ accounts after approval.

Crypto

KakaoPay Securities to push tokenisation and overseas distribution of Korean stocks

KakaoPay Securities is partnering with global real-world asset tokenisation firms to build a base for overseas distribution of Korean listed shares and to review stock tokenisation. It signed an MOU with U.S. tokenisation technology company Dinari for a proof of concept, and earlier agreed with Ondo Finance to build an overseas distribution system and jointly study tokenisation infrastructure. KakaoPay Securities will help source underlying listed shares via an omnibus account.

Crypto

Grayscale seeks to convert Zcash Trust into ETF, targets NYSE listing

Grayscale is moving ahead with plans to convert its Grayscale Zcash Trust into a spot exchange-traded fund. It filed a fourth amended S-3 registration statement with the U.S. Securities and Exchange Commission. If approved, the product would trade on NYSE Arca under the ticker ZCSH and be the first U.S. spot ETF tracking a privacy coin. The filing details largely cash-based share creation and redemption, and names Coinbase and BNY Mellon among key service providers.