The Depository Trust & Clearing Corporation (DTCC) launched its securities tokenization service on October 28, initially covering 34 securities. The service allows approved financial firms to create digital versions of securities held at its subsidiary, The Depository Trust Company (DTC).
Tokenized Securities Linked to DTC Custody
Each token represents an existing security held at DTC on a one-to-one basis. Investors retain the same rights and protections as holders of the traditional security. DTC oversees more than $114 trillion in assets.
Approved firms can convert holdings into tokens and back. Transfers between registered digital wallets can take place around the clock, while DTC tracks ownership changes in near real time. Tokens also use the same CUSIP identifiers as their underlying securities.
Major Banks Sign Access Agreements
Twenty DTC participants have signed access agreements, including Bank of America, Barclays, Citi, Fidelity Investments, JPMorgan, Morgan Stanley, State Street, and UBS. DTCC said it will add more firms. Separately, Bitget introduced a service for transferring tokenized US stocks and ETFs.
DTCC also worked with more than 150 firms during development. Wallet and technology collaborators include BitGo, Blockdaemon, Broadridge, Fireblocks, and Ondo. DTCC President Frank La Salla called the launch “the culmination of years of work” on regulated securities tokenization.
Two Blockchain Networks Support Launch
The service initially connects to Canton Network and DTCC’s private Besu blockchain. This setup allows firms to use approved digital networks without removing the underlying securities from DTC custody. DTCC plans to add further networks during 2027.
The rollout comes as companies seek clearer rules for digital shares. Robinhood CEO Vlad Tenev recently called for greater certainty over tokenized stock regulations in the United States. DTC’s service operates under an existing regulatory arrangement.
SEC Clearance Preceded Production Tests
In December 2025, the US Securities and Exchange Commission granted DTC a three-year no-action arrangement. It covers certain Russell 1000 shares, major index exchange-traded funds, and US Treasury securities. The launch starts with a smaller selection.
The broader tokenization market is also testing securities as collateral. On October 27, Lynq and ZeroBeta announced tokenized Treasury collateral services on Avalanche for institutional lending and trading. In July, DTCC worked with more than 30 firms on live transactions involving tokenized assets, including Treasury trades, share transfers, and securities lending.
