DTC Launches Tokenization Service With 20 Participants on Two Networks
The Depository Trust Company, a DTCC subsidiary, launched its Tokenization Service on October 28, 2026. Twenty DTC Participants have signed agreements to access it. No volume figures were found in DTCC's release.
The Depository Trust Company (DTC), a subsidiary of The Depository Trust & Clearing Corporation (DTCC), launched the DTCC Tokenization Service (DTS) on October 28, 2026. DTCC says the service brings tokenized securities into regulated markets through its market infrastructure. DTC reports more than $114 trillion in assets under custody, but the release gives no figure for assets tokenized so far.
How the service works
DTS lets users mint tokenized representations of real-world assets held at DTC. Eligible users can convert DTC-tokenized securities entitlements between traditional and tokenized forms. They can have them delivered to digital wallets of their choice.
DTCC calls these tokenized securities digital twins. It says they keep the ownership rights, investor protections and economic entitlements of their traditional counterparts. They represent securities already held at DTC, not unbacked substitutes.
The service uses a multi-network, interoperable model. It is currently integrated with the Canton Network and DTCC's private Besu network. DTCC says more blockchain networks will be added in 2027.
Who is involved
As of launch, 20 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 says further users will be onboarded on a rolling basis.
DTCC also names 17 collaborators and ecosystem partners. They include BitGo Bank & Trust, N.A., Broadridge, Fireblocks, Ondo, Tradeweb and Virtu. The service was developed with input from more than 150 firms in the DTC Digital Assets Solutions Industry Working Group.
Regulatory path
In December 2025, DTC received a No-Action Letter from the US SEC. DTCC says the letter covers Russell 1000 constituents, exchange-traded funds tracking major indices, and US Treasury securities.
DTCC says that about seven months after the SEC letter, it and more than 30 firms completed initial limited-production trades and multiple on-chain transactions. The October 28 launch followed that step.
DTCC CEO Frank La Salla described the launch as the culmination of years of work to bring tokenized securities into a regulated framework. Nadine Chakar, Global Head of DTCC Digital Assets, said it is only the beginning of DTCC's goal to build the Web3 ecosystem of the future.
What it does and does not show
Signed agreements are not the same as live volume. Access is for eligible users, the asset classes are those covered by the SEC letter, and onboarding is rolling.
What to watch
Key markers include the pace of onboarding and any published volume or tokenized-asset figures. The network additions DTCC has promised for 2027 are the other milestone.