The Depository Trust & Clearing Corporation (DTCC) plays a major role in the plumbing of the US financial system as the central clearing and settlement hub for equities and fixed-income products. In December, the SEC granted permission to allow the firm to custody and recognize tokenized equities and other real-world assets on-chain. The move gives the DTCC the ability to offer tokenization services on pre-approved blockchains for three years. Frank La Salla, president and CEO of DTCC, joins Scarlet Fu and Tim Stenovec on "Bloomberg Crypto" to discuss tokenization. The firm’s ultimate aspiration is to add its entire depository, which represents $100 trillion in securities, to the blockchain, a move that would require further action from the SEC.