According to CoinMeta, Wu said that Morgan Stanley announced it has become one of the first banks to adopt the tokenization services provided by the U.S. Depository Trust and Clearing Corporation (DTCC) (DTCC), converting U.S. stocks and Treasurys into tokenized forms. The service was launched on October 28th with the aim of creating tokenized representations of securities held by the DTCC (DTC) in order to improve asset liquidity, the efficiency of collateral turnover, and the efficiency of capital utilization.