Mirae Asset Joins DTCC's Tokenization Service to Explore Collateral Uses

What did Mirae Asset Securities agree to?

Mirae Asset Securities (USA) Inc., its New York subsidiary, signed an agreement to use DTCC's Tokenization Service (DTS), joining 20 DTC Participants with user agreements when the service launched on October 28, 2026.

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How could the DTCC agreement create business value for Mirae Asset?

DTS allows eligible securities entitlements held at DTC to be represented as blockchain tokens and transferred between traditional and tokenized environments through registered digital wallets; Mirae intends to explore collateral applications and capital-efficiency opportunities, although no monetization plan or revenue target has been disclosed.

Which securities can be tokenized under the current framework?

The SEC staff's no-action framework covers a defined group of eligible assets, including Russell 1000 constituents, ETFs tracking major indexes and U.S. Treasury bills, bonds and notes, rather than providing blanket permission to tokenize every security.

Can tokenized securities automatically serve as collateral within DTC?

No, not for DTC's own risk calculations: the SEC letter states that DTC will assign tokenized entitlements no collateral or settlement value when calculating participants' Net Debit Cap or Collateral Monitor, while acceptance by external lenders or counterparties remains a separate question.

What would make the agreement commercially meaningful for investors?

The important milestones are Mirae identifying eligible securities, completing tokenization or collateral transactions, attracting client usage and eventually disclosing transaction volumes or fees, because the initial user agreement alone does not establish a new earnings stream.