Service creates tokenized representations of DTC-custodied securities to support greater liquidity, collateral mobility and capital efficiency
DTCC delivers on its promise to connect digital ledger technology with assets held by one of the world’s largest financial market infrastructures
NEW YORK & LONDON & HONG KONG & SINGAPORE & SYDNEY--(BUSINESS WIRE)--The Depository Trust Company (DTC), a subsidiary of The Depository Trust & Clearing Corporation (DTCC), the premier post-trade market infrastructure for the global financial services industry, today launched the DTCC Tokenization Service (DTS). The service brings tokenized securities into regulated financial markets through trusted, resilient and scalable market infrastructure, enabling investors to move assets more efficiently, access new liquidity pools and mobilize collateral within minutes.
DTS enables the minting of tokenized representations of real-world assets held at DTC. By leveraging the service, eligible users can take advantage of DTC-tokenized securities entitlements that can be converted between traditional and tokenized forms and delivered to users’ digital wallets of choice. Tokenized securities, or digital twins, retain the ownership rights, investor protections and economic entitlements as their traditional counterparts. DTC has more than $114 trillion in assets under custody.
“Today marks the culmination of years of work to bring tokenized securities into a regulated framework supported by trusted market infrastructure,” said Frank La Salla, President and CEO of DTCC. “By extending DTC’s resiliency, governance and operational standards into digital markets, we are establishing the foundation for responsible institutional adoption at scale.”
To date, 20 DTC Participants (clients) have signed agreements to access DTS including 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. Future users will be onboarded on a rolling basis.
Created by the Markets, For the Markets
Consistent with DTC’s role as a critical market infrastructure provider, DTS was created in close collaboration with the industry it is designed to serve. Developed with input from more than 150 firms in the DTC Digital Assets Solutions Industry Working Group, DTS combines institutional-grade controls, established governance and operational safeguards to support adoption and convertibility across traditional and digital markets.
“The breadth of engagement across traditional finance and digital asset markets demonstrates that the industry is ready to move beyond experimentation and toward practical adoption,” said Brian Steele, Managing Director, President of Clearing & Securities Services at DTCC. “Working with more than 150 firms in our Industry Working Group, we built a service designed to support institutional use of tokenized securities at scale within a trusted operational framework.”
Supporting a New Interoperable Financial Ecosystem
DTS employs a multi-network, interoperable model designed to give firms greater scope to transact across traditional and digital environments. This model allows market participants to convert and deploy their assets seamlessly across traditional and tokenized markets, promoting ongoing liquidity in traditional markets while expanding it via the tokenized service. The service is currently integrated with the Canton Network and DTCC’s private Besu network, with additional blockchain networks to be added in 2027.
Beyond the DTC Participants that will use DTS directly, DTCC convened a broad digital asset ecosystem encompassing market participants, wallet providers, applications and technology firms to support greater interoperability and connectivity as digital markets and tokenization use cases evolve. Collaborators and partners include BitGo Bank & Trust, N.A., Blockdaemon, Broadridge, DFNS, DRW, Fireblocks, HIFI, Kaleido, Matter Labs, Ondo, Prometheum Capital, Talos, Taurus, Tradeweb, Transcend and Virtu.
“Today’s launch demonstrates what can be achieved through sustained industry collaboration, regulatory engagement and a disciplined approach to innovation,” said Nadine Chakar, Managing Director, Global Head of DTCC Digital Assets. “This is only the beginning of DTCC’s ultimate goal to build the Web3 ecosystem of the future that bridges established, trusted market infrastructure and digital ledger technology.”
The delivery of the DTCC Tokenization Service is the culmination of regulatory engagement, extensive industry collaboration and real-world validation to create a practical path for the adoption of tokenized securities. In December 2025, DTC received a No-Action Letter from the U.S. Securities and Exchange Commission authorizing it to tokenize Russell 1000 constituents, exchange-traded funds tracking major indices, and U.S. Treasury securities. About seven months later, DTCC and more than 30 firms completed initial limited-production trades and multiple on-chain transactions.
ABOUT DTCC
With over 50 years of experience, DTCC is the premier post-trade market infrastructure for the global financial services industry. From 19 locations around the world, DTCC, through its subsidiaries, automates, centralizes, and standardizes the processing of financial transactions, mitigating risk, increasing transparency, enhancing performance and driving efficiency for thousands of broker/dealers, custodian banks and asset managers. Industry owned and governed, the firm innovates purposefully, simplifying the complexities of clearing, settlement, asset servicing, transaction processing, trade reporting and data services across asset classes, bringing enhanced resilience and soundness to existing financial markets while advancing the digital asset ecosystem. In 2025, DTCC’s subsidiaries processed securities transactions valued at U.S. $4.7 quadrillion and its depository subsidiary provided custody and asset servicing for securities issues from over 150 countries and territories valued at U.S. $114 trillion. DTCC’s Global Trade Repository service, through locally registered, licensed, or approved trade repositories, processes more than 25 billion messages annually. To learn more, please visit us at www.dtcc.com or connect with us on LinkedIn, X, YouTube, Facebook and Instagram.
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Contacts
Press
DTCC
Lauren McCormack Davis
+1 551 302 5591
lauren-davis@dtcc.com
US
Valerie Kerner, Vested
+1 518 821 7555
dtcc@fullyvested.com
Europe
Indre Hessant
+44 (0) 759 0735 478
indre.hessant@greentarget.co.uk
Asia
Corinne Lee, DTCC
+65 6805 8033
clee2@dtcc.com
Additional Information
Learn more about the DTCC Tokenization Service
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