DTCC Launches Blockc...

DTCC Launches Blockchain Service Covering Securities Worth US$30 Trillion

By José Oramas October 29, 2026 In Blockchain, Security

The Depository Trust Company launched the DTCC Tokenization Service on 28 October, running on the Canton Network and DTCC’s private Besu blockchain.
Twenty firms have signed agreements to use it, including Bank of America, Barclays, Citadel Securities, Fidelity Investments and UBS.
An SEC staff no-action letter from December 2025 limits the service to Russell 1000 stocks, major index ETFs and US Treasuries for three years.

Wall Street’s main securities depository launched a tokenisation service on Wednesday that lets banks and brokers convert stocks, exchange-traded funds and US Treasuries in its custody into blockchain tokens.

The Depository Trust & Clearing Corporation (DTCC) puts the assets available to be tokenised at about US$30 trillion (AU$42.6 trillion). Its subsidiary, the Depository Trust Company (DTC), holds more than US$114 trillion (AU$161.9 trillion) in assets in custody. At launch, 34 securities can be converted, according to DTCC’s service page.

The service runs on the Canton Network and on Besu, a private blockchain operated by DTCC. It builds on DTCC’s December 2025 pilot with Canton to tokenise US Treasuries. Canton already counts JPMorgan, Nasdaq and Goldman Sachs among its institutional users.

Each token is backed one-for-one by a security held at DTC. It keeps the same CUSIP identifier, rights and investor protections as the book-entry version, and DTC keeps the official books and records.

Participants can submit conversion orders between 2 a.m. and 6 p.m. US Eastern time on business days. DTCC targets 15 minutes or less for each order. Those tokens can then move peer-to-peer around the clock between wallets registered with DTC.

Treasury tokens are also serviced on-chain from launch. That servicing covers distributions and maturity payments, which reach participants in fiat currency through their traditional accounts.

Twenty Firms Sign On

Twenty DTC participants have signed agreements to use the service, including JPMorgan, Citi, Morgan Stanley, BNP Paribas, State Street and Edward Jones. That list will grow, with further users onboarded on a rolling basis, DTCC said.

Beyond those participants, more than 150 firms in DTCC’s industry working group helped shape the service. Brian Steele, DTCC’s president of clearing and securities services, said the industry is ready to move from experiments to practical adoption.

The launch rests on a no-action letter that staff at the Securities and Exchange Commission (SEC) issued in December 2025. That letter lets DTC run the service for three years. Its scope covers only Russell 1000 stocks, ETFs tracking major indices, and Treasury bills, notes and bonds.

DTCC and more than 30 firms tested the system with limited production trades on 15 July. Those trades covered collateral pledges, securities lending and Treasury repo deliveries.

Stellar and Circle’s Arc blockchain are expected to join in 2027, according to DTCC’s roadmap. The same roadmap lists on-chain netting and digital cash for settlement, and DTCC describes it as indicative and subject to change.