DTCC Launches Tokenized Securities Service With 20 Firms
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The Depository Trust & Clearing Corporation has launched a service that lets eligible institutions mint blockchain-based versions of securities held at its depository subsidiary, with JPMorgan, Citi and Fidelity Investments among 20 firms that signed agreements to use it, CoinCentral reported.
The DTCC Tokenization Service, announced on Wednesday, began with support for 34 securities, including selected large-cap Russell 1000 constituents, exchange-traded funds and U.S. Treasuries. The unit behind it, The Depository Trust Company, holds more than $114 trillion in assets under custody.
Key facts
- Twenty DTC participants signed agreements for the service; CoinCentral named Alpaca, Citadel Securities, Citi, Clear Street, DriveWealth, Fidelity Investments, Interchange Clearing and JPMorgan among them.
- DTCC’s website lists 34 supported securities at launch, spanning large-cap Russell 1000 names, ETFs and U.S. Treasuries.
- The service runs on the Canton Network and DTCC’s private Besu network, with more networks planned for 2027.
- The launch followed a December 2025 SEC no-action letter and a July pilot in which DTCC completed limited-production transactions with more than 30 firms.
- DTCC developed the platform with input from more than 150 financial institutions, and technology collaborators include BitGo, Fireblocks, Blockdaemon, Broadridge and Ondo.
What the service actually does
DTS lets DTCC clients convert ordinary securities entitlements held at DTC into tokens, move them to digital wallets, and convert them back later. The tokens carry the same ownership rights and investor protections as the traditional securities, and the underlying assets stay inside DTC’s existing custody operation rather than being migrated onto a blockchain.
DTCC frames the benefit in operational terms: faster collateral movement, which it says can happen within minutes, and access to additional liquidity pools. The company’s president and CEO, Frank La Salla, described the launch as the culmination of years of work to place tokenized securities inside a regulated framework backed by trusted market infrastructure, and said the firm is laying groundwork for responsible institutional adoption at scale. Brian Steele, president of Clearing & Securities Services, said the industry is ready to move from experimentation to practical use.
Who signed, and where the reports differ
The list of participants varies by outlet. Bitcoin.com News reported that JPMorgan, Morgan Stanley and 18 other DTC participants signed agreements, and its roster also includes Bank of America, Barclays, UBS, State Street, BNP Paribas, Citadel Securities and Apex Clearing. CoinCentral cited CoinGape in reporting that Morgan Stanley, Bank of America and Barclays are joining, while naming Fidelity and Citi directly. Crypto Briefing listed Bank of America, BNP Paribas, Citi, JPMorgan, Morgan Stanley, State Street and UBS among the 20 signed participants.
Separately, Ondo Finance said it joined DTCC’s Fund/SERV network, connecting its tokenized fund operations to existing U.S. investment distribution channels.
Why it matters
Most tokenization efforts to date have sat outside the core plumbing of U.S. equity settlement. DTCC’s entry places a regulated conversion mechanism inside infrastructure that already clears and custodies the bulk of American securities, which gives large banks a route into digital asset rails without abandoning existing protections. For participating firms, the practical gain is capital efficiency: collateral that once took longer to move between counterparties can be mobilised in minutes. The harder question is adoption volume — whether institutions accustomed to established settlement systems will shift enough everyday activity onto blockchain transfers to change market operations.
What to watch
DTCC has said additional blockchain network integrations are scheduled for 2027, and it expects more participants to join the service as it grows. Whether the current 20-firm roster and 34-security list widen in the coming quarters will be the clearest signal of traction.
Disclaimer: This article is for information only and is not investment, financial or trading advice. Cryptocurrency prices are highly volatile. Always do your own research.
Sources: CoinCentral, Bitcoin.com News, Crypto Briefing
