The DTCC’s subsidiary, the Depository Trust Company (DTC), launched the DTCC Tokenization Service (DTS) on Oct. 28, enabling eligible institutional users to mint 1:1 blockchain representations of securities custodied at DTC. Initial coverage is limited: sources describe an opening menu of roughly 25–34 liquid instruments, with one report specifying 34 tokenizable securities that include selected Russell 1000 equities, major ETFs and U.S. Treasuries. Tokens keep the same CUSIP identifiers and, according to DTCC, convey the same legal rights and economic entitlements as the underlying assets.
DTS is positioned as a controlled extension of existing post-trade infrastructure rather than a move into open decentralized finance. The service currently integrates with the Canton Network and DTCC’s private Hyperledger Besu network, and DTCC has plans to add additional blockchains such as Stellar and Circle’s Arc in 2027. DTC retains the authoritative registry role, while built-in compliance controls and investor protections remain in place. Technology and custody partners named in the launch include BitGo, Blockdaemon, Fireblocks, HashKey, Kaleido, Prometheum, Talos, Temple and Tradeweb.
Industry participation is significant: DTCC says more than 20 DTC participants signed agreements to access DTS, with participating institutions ranging from broker-dealers and custodians to major banks and asset managers. Named participants across reports include JPMorgan, Citi, Bank of America, BNP Paribas, Morgan Stanley, State Street, UBS, Fidelity, Alpaca, Citadel Securities, Clear Street, DriveWealth and Interchange Clearing. DTCC frames the eligible pool at approximately $30 trillion of securities available for tokenization, while noting that DTC’s total assets under custody exceed $114 trillion according to other statements — underscoring that the initial tokenized slice is only a portion of custody balances.
The rollout follows regulatory clearance and a pilot: the SEC issued a no-action letter in December 2025 for specified asset classes, and DTCC ran a July 2026 pilot with more than 30 firms. Reports diverge on transfer mechanics and timing: one release described peer-to-peer transfers between DTC-registered wallets available 24/7, while other coverage states on-chain transfers occur only between 2:00 a.m. and 6:00 p.m. ET and only among registered wallets. DTCC positions DTS as a practical path for tokenized securities adoption that aims to improve settlement efficiency and asset mobility within a permissioned, centrally governed framework.
Stellar chosen as first public chain
The new reporting adds that DTCC plans to deploy Stellar as the first public blockchain integration for its tokenization service, targeting the first half of 2027, and that the decision followed discussions between DTCC Digital Assets head Nadine Chakar and Stellar CEO Denelle Dixon at Meridian 2026. The service will continue to run on Canton and DTCC’s private Besu while more networks are phased in during 2027.
The update also specifies that 20 financial institutions have signed access agreements, with additional named participants beyond earlier lists — including Barclays, BNP Paribas, Apex Clearing, Brown Brothers Harriman, Edward Jones, Marex, Mirae Asset Securities and Velocity Capital — supplementing previously reported banks and asset managers. DTCC developed the platform with input from more than 150 firms, and the roster of technology collaborators now named in announcements includes Broadridge, Ondo, Taurus and Virtu alongside previously disclosed vendors. Separate reporting notes Ondo’s regulated subsidiary Oasis Pro Markets joined the Fund/SERV network, and the company reiterated that the SEC no-action letter from December 2025 provides a three-year regulatory framework under which eligible Russell 1000 stocks, major ETFs and U.S. Treasuries may be tokenized. DTCC framed the launch as the culmination of years of work and signaled a gradual onboarding of further institutions and blockchains.