According to reports, Wall Street back-end giant DTCC is considering integrating stablecoins.

The Block reports: According to The Information, the core institution of global financial market infrastructure—the Depository Trust & Clearing Corporation (DTCC)—is working on developing a stablecoin, marking the institution's growing interest in the digital asset space.

DTCC recently pointed out in a blog that the use cases for stablecoins are increasingly growing, covering key applications such as corporate cross-border fund management and payment systems.

Although DTCC has not publicly responded to the news about developing stablecoins, its blog clearly states: "Stablecoins are gradually becoming an alternative settlement mechanism, demonstrating clear blockchain application value in improving payment efficiency."

"With the continuous update of payment infrastructure, stablecoins have now become one of the payment options, suitable for various ecological segments ranging from retail cross-border transactions to securities settlement." — DTCC Blog

As a registered organization with the U.S. Securities and Exchange Commission (SEC), DTCC processes securities transactions worth hundreds of billions of dollars annually through its subsidiaries, primarily providing post-trade clearing, settlement, custody, and data services.

The recent news related to stablecoins indicates that the organization is further extending its reach into the blockchain and digital asset sectors. Currently, DTCC's digital asset business is led by Global Head of Digital Assets, Nadine Chakar.

This isn't the first time DTCC has ventured into blockchain infrastructure. In April this year, DTCC launched the AppChain tokenized collateral management platform, which aims to bridge the traditionally siloed financial system and provide an on-chain bridge for cross-platform asset management.

At the same time, the DTCC is not the only large institution exploring the potential of stablecoins. For example, Société Générale and Bank of America are also actively researching the issuance of tokens pegged to the US dollar, primarily influenced by the promotion of the GENIUS Act (which aims to regulate the framework for US stablecoin oversight).

During a Senate hearing held this Wednesday, U.S. Treasury Secretary Scott Bessent stated that the dollar-backed stablecoin market is expected to exceed $2 trillion in size within the next three years.