DTCC launches tokenization service for securities worth $30 trillion
DTCC’s new service lets 20 financial firms tokenize select stocks, ETFs and Treasuries, linking securities held in custody to blockchain networks under SEC authorization.
The Top Crypto Editors 2 min read
Can you now move major U.S. securities onto a blockchain through DTCC? Yes: on Oct. 28, its subsidiary Depository Trust Company launched a service for tokenized versions of select securities, with 20 firms signed up to access it. DTCC’s launch announcement says the service is integrated with Canton Network and DTCC’s private Besu network.
What does the $30 trillion figure cover?
It describes the market value represented by securities eligible at launch, not assets already tokenized. CoinDesk reports that the initial set comprises 34 securities: selected Russell 1000 stocks, ETFs tracking major indexes, and U.S. Treasury bills, notes and bonds. The figure is a measure of potential scope; neither DTCC’s announcement nor CoinDesk’s report says $30 trillion has moved on-chain.
The tokens represent entitlements to securities held at DTC, DTCC’s depository, rather than independent assets that merely track their prices. DTCC says tokenized entitlements can be converted between traditional and tokenized forms and retain the ownership rights, investor protections and economic entitlements of their traditional counterparts. DTC reported more than $114 trillion in assets under custody.
How will the service work for banks?
Access is voluntary and currently limited to DTC participants and their clients under a three-year SEC no-action authorization issued in December 2025. The 20 firms that signed access agreements include JPMorgan, Citi, Morgan Stanley, Bank of America, State Street and UBS, according to DTCC. Signing up establishes access; it does not show that each firm has tokenized or traded securities.
The service uses a multi-network model, with Canton and private Besu connected at launch. DTCC says transfers between traditional and tokenized forms are supported, while the tokens can be delivered to users’ digital wallets. The structure ties the digital representation to securities held in the existing depository system.
What should you watch next?
DTCC says it plans to add more blockchain networks in 2027. The launch makes the service available, but the next evidence of adoption will be which firms use it and how much activity follows. Watch for those disclosures and for the additional network integrations next year.
References
- DTCC’s launch announcement — dtcc.com