DTCC Launches Tokenization Service for Tokenized Securities

The Depository Trust Company (DTC), a subsidiary of The Depository Trust & Clearing Corporation (DTCC), has launched the DTCC Tokenization Service (DTS), bringing tokenized securities into regulated financial markets through market infrastructure the company describes as trusted, resilient and scalable.

DTS allows eligible users to mint tokenized representations of real-world assets held at DTC. These DTC-tokenized securities entitlements can be converted between traditional and tokenized forms and delivered to users’ digital wallets of choice. According to DTCC, the tokenized securities, or digital twins, retain the ownership rights, investor protections and economic entitlements of their traditional counterparts. DTC holds more than $114 trillion in assets under custody.

Twenty DTC Participants have signed agreements to access DTS: Alpaca, Apex Clearing Corporation, Barclays, Bank of America, BNP Paribas, Brown Brothers Harriman, Citadel Securities, Citi, Clear Street, DriveWealth, Edward Jones, Fidelity Investments, Interchange Clearing, J.P. Morgan, Marex, Mirae Asset Securities (USA) Inc., Morgan Stanley, State Street, UBS and Velocity Capital LLC. DTCC said future users will be onboarded on a rolling basis.

The service uses a multi-network, interoperable model intended to let firms transact across traditional and digital environments. It is currently integrated with the Canton Network and DTCC’s private Besu network, with additional blockchain networks to be added in 2027.

DTCC said it also convened a broader digital asset ecosystem of market participants, wallet providers, applications and technology firms to support interoperability and connectivity. Named collaborators and partners include BitGo Bank & Trust, N.A., Blockdaemon, Broadridge, DFNS, DRW, Fireblocks, HIFI, Kaleido, Matter Labs, Ondo, Prometheum Capital, Talos, Taurus, Tradeweb, Transcend and Virtu.

Frank La Salla, President and CEO of DTCC, said the launch culminates years of work to bring tokenized securities into a regulated framework supported by trusted market infrastructure. Brian Steele, Managing Director, President of Clearing & Securities Services at DTCC, said the engagement across traditional finance and digital asset markets shows the industry is moving toward practical adoption, adding that DTCC worked with more than 150 firms in its Industry Working Group. Nadine Chakar, Managing Director, Global Head of DTCC Digital Assets, described the launch as a result of sustained industry collaboration, regulatory engagement and a disciplined approach to innovation.

In December 2025, DTC received a No-Action Letter from the U.S. Securities and Exchange Commission authorizing it to tokenize Russell 1000 constituents, exchange-traded funds tracking major indices, and U.S. Treasury securities. About seven months later, DTCC and more than 30 firms completed initial limited-production trades and multiple on-chain transactions.