DTCC Tokenization Service to Launch at End of October: 25 Securities First, With an Eligible Pool of About $30 Trillion
NEW YORK — The Depository Trust & Clearing Corporation (DTCC), the institution at the center of U.S. securities settlement, released an overview of its tokenization service this week confirming a commercial launch by the end of October 2026. The DTCC Tokenization Service starts with 25 securities — large-cap Russell 1000 stocks, major ETFs and U.S. Treasuries — on the Canton Network and on Besu, DTCC's private network. Each token is backed one-to-one by securities held at the Depository Trust Company (DTC), keeps the same CUSIP number, the same legal rights and the same investor protections as the underlying security, and can be converted back into traditional form.
According to DTCC's overview, about $30 trillion of assets held at DTC — which custodies more than $114 trillion in total — can be tokenized over time. The service operates under a three-year no-action letter the Securities and Exchange Commission issued in December 2025. More than 30 institutions already traded tokenized DTC assets in live production trades on July 15, spanning collateral pledges, securities lending, Treasury repo and equity delivery-versus-payment transactions. Only eligible DTC participants — mainly large banks, brokers and custodians — and their clients can use the service. Tokenized securities can move around the clock between registered, screened wallets on the same network, while conversions between tokenized and traditional form run on business days, roughly 2 a.m. to 6 p.m. Eastern, with a target of 15 minutes or less. DTCC plans to add networks including Stellar in 2027.
Published by GSM · USA (original Chinese edition)
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