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- DTCC launched its tokenization service to create blockchain representations of securities.
- The initial launch includes 34 securities representing approximately $30 trillion in underlying assets.
- Twenty firms signed agreements to access the newly established tokenization platform.
DTCC launched its tokenization service on Oct. 28, enabling eligible institutions to create blockchain-based representations of securities held at its Depository Trust Company subsidiary. Eligible institutions can transfer tokenized holdings around the clock between registered wallets on the same blockchain while retaining the underlying securities’ rights.
Tokenized Securities Retain Existing Rights
Eligible users can convert their rights to securities held at DTC between conventional account records and blockchain-based tokens. DTCC describes these tokens as digital twins of assets that remain held at the depository.
The company lists 34 securities available for tokenization at launch, representing approximately $30 trillion in assets under custody. That figure describes the underlying eligible assets, rather than the value already converted into tokens.
Eligible asset categories include Russell 1000 constituents, exchange-traded funds tracking major indexes and U.S. Treasury securities. The launch therefore covers a selected set of securities within those broader categories.
Each tokenized representation is backed one-to-one by securities held at DTC. DTCC states that the tokens carry the same legal rights, economic interests and investor protections as the underlying securities.
Transfers Available Between Registered Wallets
The service currently connects to Canton Network and DTCC’s private Besu network. DTCC plans to add further blockchain networks in 2027.
Around-the-clock, peer-to-peer transfers are available within a blockchain between DTC-registered wallets. Access remains subject to the service’s registration and compliance requirements.
The tokens include controls supporting compliance and near-real-time ownership tracking. Smart contracts may also automate certain distribution requirements and connect assets with blockchain-based reference data.
Twenty Firms Sign Access Agreements
20 DTC participants had signed agreements to access the service. They include Bank of America, Citi, Fidelity Investments, J.P. Morgan, Morgan Stanley, State Street and UBS.
Signing an access agreement does not establish how much a firm has tokenized. DTCC said further users would be onboarded on a rolling basis.
The launch follows limited-production trades completed with more than 30 firms in July. Those transactions helped validate the service ahead of its broader launch. DTCC said the December 2025 SEC staff no-action letter covers a three-year service period on pre-approved blockchains.
