DTCC Launches Tokenization for 34 Securities Worth $30 Trillion

The DTCC Tokenization Service was officially deployed by the Depository Trust & Clearing Corporation on October 28, 2026. A DTCC spokesperson informed CoinDesk that 20 firms initially signed up for access, while 34 securities were eligible at inception. Together, these assets account for roughly $30 trillion in market capitalization.

While users participating in the system can transfer tokenized securities across registered wallets 24/7, the actual conversion of assets into tokens remains restricted to standard business hours.

DTCC Opens Access to 34 Securities and 20 Firms

Operating via the Depository Trust Company (DTC)—a subsidiary of the DTCC—the offering includes exchange-traded funds, select large-cap Russell 1000 equities, and U.S. Treasury obligations as eligible launch assets.

Access agreements have been executed by 20 DTC participants, featuring major names such as Citi, JPMorgan, Fidelity Investments, and Citadel Securities. Additional institutions are expected by the DTCC to onboard over time.

These participating firms can shift their existing holdings between traditional formats and tokenized versions for assets that total approximately $30 trillion in collective market value.

DTCC Tokenization Service Wallet Transfers Run Around the Clock

Built on DTCC’s private Besu blockchain and the Canton Network, the platform processes conversion requests submitted during regular business hours with a targeted turnaround of 15 minutes or less.

Following conversion, tokens may be moved among registered blockchain wallets at any hour, provided compliance parameters are met. This extended transfer schedule does not, however, lengthen normal exchange trading hours.

DTC Keeps Custody Backing and Ownership Records

For every token generated, the DTC maintains a one-for-one backing by holding the corresponding security. Official ownership records are preserved by the depository as tokens circulate between registered wallets, thereby maintaining standard investor protections and ownership rights.

The DTC oversees custody for more than $114 trillion in securities. This established custody architecture differentiates these tokens from synthetic alternatives that merely follow stock prices without conveying actual ownership of the underlying equities.

Frank La Salla, president and CEO of the DTCC, noted that the deployment represents the culmination of efforts to integrate tokenized securities into a regulated framework backed by dependable market infrastructure.

DTCC Rollout Follows December 2025 SEC Letter

The Securities and Exchange Commission issued a no-action letter in December 2025, confirming it would decline to recommend enforcement action against the DTC regarding the anticipated tokenization framework for a specified list of securities.

Following a planned July pilot, the DTCC stated in May 2026 that an October rollout was expected. Wednesday’s launch successfully brings the platform live according to that schedule.

DTCC Plans Stellar and Arc Support in 2027

Looking ahead to 2027, the DTCC intends to incorporate support for Stellar as well as Circle Internet’s Arc blockchain. The roadmap further outlines enhanced corporate-action support, mechanisms for settling transactions using digital cash, and options for deploying tokenized securities as collateral.

These upcoming integrations will build upon launch capabilities by connecting additional distributed ledgers and combining token transfers with collateral usage and cash settlement.

?FAQ

01Which types of securities are eligible at launch?

The initial 34 eligible assets comprise equities, government debt, and ETFs. Government holdings consist of Treasury bonds, notes, and bills, while eligible equities originate from the Russell 1000 index.

02Which firms have signed agreements to access the service?

The 20 participants holding access agreements include Bank of America, Morgan Stanley, Barclays, State Street, and UBS. Additional signatories comprise Alpaca, Clear Street, DriveWealth, and Interchange Clearing.

03When can firms convert securities into tokens, and what processing time does DTCC target?

Conversion requests are submitted during regular business hours, with the DTCC aiming for a processing duration of 15 minutes or less. Wallet-to-wallet transfers among registered participants remain accessible continually, subject to compliance requirements.

04What did the SEC’s December 2025 letter cover?

The SEC indicated it would not suggest enforcement action against the DTC concerning the planned tokenization initiative for a designated group of securities.

05Which additional blockchain networks does DTCC plan to support in 2027?

The DTCC has scheduled integrations for Arc—the blockchain created by stablecoin issuer Circle Internet—and Stellar, building upon the initial deployment on Canton and the private Besu chain.

This article is for information only and is not financial advice.