Carlos Domingo, founder and CEO of Securitize, said issuer-led tokenization of shares operates differently from the DTCC’s intermediary system for entitlements, supporting U.S. financial digitization and expanding capital access for innovative companies.
“Good comparison of the DTCC tokenization of entitlements vs the native tokenization of shares we do at Securitize, two completely different models and market structures so it will lead to different outcomes,” said Domingo. “There is a clear authority, in the DTCC case, it is them, in our case, the issuer directing the TA, since our model is issuer-led, and the other one is not just an intermediary tokenizing an entitlement without issuer consent. We don’t need any approval to do what we are doing since it is already legal and we are an SEC registered transfer agent. You can do the same in the US moving the share outside of DTCC into the books and records of a blockchain based transfer agent.”
According to Domingo, his statement was made in a post on X responding to an analysis of tokenization models. The post highlights structural differences between established clearing systems and blockchain-native alternatives in the U.S. securities market. This discussion is occurring as regulatory approvals enable expanded digital asset services.
The U.S. asset tokenization market reached $0.57 trillion in 2024 and is projected to grow to $11.55 trillion by 2032 at a compound annual growth rate of 45.8 percent. This growth is expected to enhance efficiency in domestic capital markets through digital infrastructure.
Globally, the asset tokenization market was valued at $2.06 trillion in 2024, with projections indicating it will reach $41.94 trillion by 2032, growing at a compound annual growth rate of 45.83 percent.
Domingo has over 25 years of experience in innovation, digital transformation, and venture capital. Previously, he served as CEO of Research and Development at Telefonica.
