Foreign media commentators believe that the market has recently been viewing Stellar and Ripple Prime, two DTCC-related developments, as parallel, but their corresponding business roles are different. The former is closer to a public blockchain supporting tokenized assets, while the latter aims to enter the trading networks of traditional financial institutions.
Stellar has been integrated into a tokenization platform.
The report mentions that DTCC has decided to connect its tokenization platform directly to the Stellar blockchain. Under this arrangement, financial institutions will be able to issue, settle, and manage tokenized assets on the Stellar network, covering categories such as stocks, ETFs, and US Treasury bonds.
This is also the main reason why the market is paying more attention to XLM. DTCC is a major player in the US securities back-end infrastructure, processing a massive amount of securities transactions annually. The commentary states that this move signifies that tokenized assets supported by DTCC are beginning to extend more explicitly to public blockchains.
Ripple Prime access to institutional channels
In contrast, Ripple Prime's progress has not focused on underlying blockchain integration. Reports indicate that Ripple Prime has been included in the participant list of the National Securities Clearing Corporation (NSCC), a subsidiary of DTCC, as a clearing and execution broker.
This means Ripple Prime can access DTCC's existing institutional clearing and settlement network and conduct business within the same framework as other brokerages already using the system. The article also mentions that Ripple Prime is participating in DTCC's tokenization working group, which already has over 50 companies involved.
XRP Ledger was not included.
The commentary emphasizes that DTCC has not announced the selection of XRP Ledger as the blockchain infrastructure for its tokenization plan. This is the most easily confused, yet crucial, difference between the two announcements.
In short, Stellar gains direct access to the blockchain layer and may take over some of the future tokenized asset activities; Ripple Prime, on the other hand, gains institutional access in the traditional financial market, focusing on brokerage, clearing and settlement capabilities, rather than the adoption of XRP Ledger itself.
