DTCC launches tokenization services for stocks, ETFs and US Treasuries

On October 28, 2026, the Depository Trust & Clearing Corporation launched its tokenization service on the Canton Network and Besu blockchain, bringing $30 trillion in eligible U.S. stocks, ETFs, and Treasuries onto digital rails. Backed by DTC's $114 trillion custody framework, 20 major institutions including JPMorgan and Citi signed on at launch. Supported by a December 2025 SEC no-action letter, the rollout aims to pave the way toward a $5.5 trillion tokenized securities market by 2030.

DTCC launches tokenization service and assets covered

• ▪The DTCC Tokenization Service launched with 34 eligible securities representing approximately $30 trillion in market value, encompassing select Russell 1000 large-cap stocks, exchange-traded funds, and U.S. Treasury bills, notes, and bonds
• ▪The DTCC launched its DTCC Tokenization Service, allowing clients to convert traditional securities into digital tokens backed one-for-one by assets

Service operations and execution standards

• ▪DTCC targets conversion processing times of 15 minutes or less during business hours, with tokenized assets transferable between registered wallets 24 hours a day while DTC retains official ownership records
• ▪The Depository Trust Company holds over $114 trillion in assets under custody while extending its custody, governance, and operational standards to digital market transfers

Blockchain integration and expansion plans

• ▪The DTCC Tokenization Service (DTS) integrated at launch with the Canton Network and DTCC's private Besu blockchain network
• ▪DTCC's development roadmap includes adding capabilities for settling transactions with digital cash, broader corporate-action support, and using tokenized securities as collateral
• ▪DTCC plans to expand the DTCC Tokenization Service (DTS) to the Stellar network and Circle Internet's Arc blockchain in 2027

Regulatory timeline and launch context

• ▪The U.S. Securities and Exchange Commission issued a no-action letter in December 2025 stating it would not recommend enforcement action regarding DTCC's proposed tokenization program
• ▪DTCC launched its Tokenization Service (DTS) on October 28, 2026, following a July 2026 pilot program and preliminary rollout plans announced in May 2026