Wayne Hughes, Digital Assets Market & Client Engagement Lead in Securities Services at BNP Paribas, said at Sibos 2026 that connecting blockchains is a key challenge for financial firms using tokenized assets.
During a discussion with Chainlink Labs, Hughes described an abstraction layer as a way for a bank’s platforms to connect with multiple blockchains. BNP Paribas said broader digital-asset use also depends on shared frameworks and regulatory coordination across markets.
Separately, the Depository Trust & Clearing Corp. (DTCC) said a production initiative on July 15, 2026, converted assets held by its subsidiary, The Depository Trust Company (DTC), into tokens for live trades. More than 30 firms took part, including BNP Paribas Securities Corporation, Chainlink, CME Group and Societe Generale.
DTCC listed a collateral pledge and a U.S. Treasury/repo delivery-versus-payment (DVP) trade among the initiative’s use cases. The event involved specific DTC-held assets and production trades.
DTCC said its Tokenization Service went live Oct. 28, 2026, and that adding more blockchain networks is planned for 2027. The company has identified potential gains in liquidity, collateral mobility and capital efficiency from tokenization.
