DTCC Launches Tokenization Live for Stocks, ETFs, and Treasuries
The service runs on Canton Network and DTCC’s Besu chain, with 34 securities from the Russell 1000, ETFs, and Treasuries in the first phase.
Key Takeaways
- DTCC has launched its tokenization service live for selected stocks, ETFs, and U.S. Treasuries on Canton Network and Besu.
- The first phase includes 34 securities with a combined market value of about $30 trillion, while ownership records remain with Depository Trust Company.
- Twenty firms have requested access or signed agreements; DTCC wants to add more participants, features, and blockchain support later.
DTCC has launched its tokenization service live and is bringing stocks, ETFs, and U.S. Treasuries closer to Wall Street’s existing market infrastructure. The service runs on the Canton Network and on DTCC's private Besu chain, with 34 securities in the first phase that together represent about $30 trillion (€26.9 trillion) in market value.
What DTCC Is Offering Now
At launch, the service supports selected large-cap stocks from the Russell 1000, exchange-traded funds, and U.S. Treasury bills, notes, and bonds. According to DTCC, the tokens can be issued based on securities already held in custody at its subsidiary Depository Trust Company, while the official ownership record stays there.
That distinction matters. The tokens are not synthetic price products, but instead represent existing securities held one to one. According to DTCC, registered wallets can then move the tokens around the clock, while conversion happens during business hours and the company is aiming for processing within 15 minutes or less.
Why This Matters for Wall Street
DTCC sits deep in the heart of the U.S. securities market. Through its subsidiaries, the company handles clearing, settlement, and custody for a large share of stock and bond trading in the U.S., with more than $114 trillion (€102 trillion) in securities in custody.
The move fits into a broader shift on Wall Street, where major firms have long been looking for ways to put traditional securities on blockchain infrastructure. Citi previously estimated that tokenized securities could grow into a $5.5 trillion (€4.9 trillion) market by 2030, although that remains a forecast, not a certainty.
More Firms and More Features
Twenty firms have now requested access or signed agreements, including Bank of America, Barclays, Citi, Fidelity Investments, JPMorgan, Morgan Stanley, Citadel Securities, State Street, and UBS. DTCC says more participants may join later.
The roadmap also includes Stellar and Circle Internet's Arc blockchain for next year, plus broader support for corporate actions and tools to settle transactions with digital cash. For European crypto readers, the key point is that this shows how traditional market players are no longer treating blockchain as just a test, but as a possible layer in existing market processes. The U.S. regulator SEC previously gave DTCC a no-action letter for a limited set of securities, and in July DTC assets were already successfully converted into tokens that were used in real transactions.
