The Depository Trust Company, the securities depository owned by DTCC, opened the DTCC Tokenization Service to clients on Wednesday, the parent company announced in a release that crossed at 8:04 a.m. ET. Under the service, a security held at DTC can be minted as a token and delivered to a wallet the client picks, and conversion works in both directions between book-entry and tokenized form. DTCC said the tokens keep the legal and economic rights of the securities behind them.
So far, 20 DTC participants have signed agreements to use it, among them J.P. Morgan, Citi, Morgan Stanley, Fidelity Investments and Citadel Securities. DTCC said further clients will be added on a rolling basis. Its tokenization page lists 34 securities as available to tokenize at launch.
“Today marks the culmination of years of work to bring tokenized securities into a regulated framework supported by trusted market infrastructure,” Frank La Salla, DTCC’s president and CEO, said in the release.
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From a Treasuries Pilot to a Launch
Set against DTCC’s own earlier announcements, the service grew past the plan the company laid out in December 2025, which aimed to tokenize a portion of DTC-held U.S. Treasuries on Canton in a minimum viable product during the first half of 2026. It went live on the July-pilot, October-launch timetable DTCC set in May, after more than 30 firms ran limited production trades on July 15, though Wednesday’s release counts signed participants only and gives no figure for how many firms have transacted or for trading volume.
Networks and Eligible Assets
The service currently connects to the Canton Network and to DTCC’s private Besu network, with more blockchains planned for 2027. The release does not say which clients or securities sit on which chain.
What can be tokenized traces back to a no-action letter from SEC staff that DTC received in December 2025. It covers Russell 1000 constituents, ETFs that track major indexes, and U.S. Treasury securities. DTC holds more than $114 trillion in assets under custody, per the release.
More than 150 firms in DTC’s industry working group gave input on the design, and DTCC named 17 outside collaborators, including Fireblocks, BitGo, Broadridge and Ondo, which Unchained reported in September had joined a DTCC network. Separately, SEC examiners said they will look at tokenization at clearing agencies in fiscal 2027.
Nadine Chakar, DTCC’s global head of digital assets, called the launch “only the beginning” of the company’s plan to link existing market infrastructure with distributed ledgers.
Related Listen: ‘Trust Me, Bro’: Why Canton Is No More Private Than JPMorgan Is Private
The post DTCC Turns On Its Tokenized Securities Service for 20 Clients, Meeting Its October Target appeared first on Unchained.
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