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The Depository Trust & Clearing Corporation has launched its tokenization service, allowing eligible participants to create and move digital representations of securities held by its depository subsidiary, DTC.
DTCC said on October 28 that the service is live and integrated with the Canton Network and DTCC's private Besu network. It said additional blockchain connections are planned for 2027. The launch moves the service beyond the limited production transactions conducted in July, when more than 30 firms took part in a series of real trades.
The practical idea is to connect securities already held in the traditional financial system with blockchain-based records. An eligible participant can convert a qualifying DTC-held position into a tokenized securities entitlement for delivery to a registered digital wallet, and convert it back. DTCC says the digital representation retains the ownership rights, investor protections and economic entitlements of its traditional counterpart.
For everyday investors, this is a change in financial infrastructure rather than a new requirement to buy a crypto token. Institutions may eventually use tokenized securities to move collateral more flexibly, but the announcement does not show that every investor can access the service or that faster processing is available for every transaction. How benefits reach customers will depend on participating firms and their products.
DTCC said 20 DTC participants have signed agreements to access the service, including Bank of America, Barclays, Citi, Fidelity Investments, J.P. Morgan, Morgan Stanley and State Street. Signed agreements are evidence of intended access, not evidence that each institution has completed live transactions or that broad adoption has occurred. DTCC said future users will be onboarded on a rolling basis.
The SEC staff issued a no-action letter in December 2025 covering a defined service for eligible securities, including Russell 1000 constituents, certain index ETFs and U.S. Treasury securities. A staff no-action position is not a blanket approval of every token or network. DTCC says DTC holds more than $114 trillion in assets overall; that custody figure is not the value tokenized at launch and does not measure demand for Canton Coin or any other token.
Sources & evidence
DTCC — October 28 launch announcement ↗
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