DTCC launches tokenisation service for securities worth trillions
Service connects traditional securities with blockchain markets; 20 major firms signed up at launch
The Depository Trust & Clearing Corporation (DTCC) has introduced a new tokenisation service, enabling eligible financial institutions to create and transfer blockchain-based representations of securities held within its custody infrastructure.
The DTCC Tokenization Service (DTS) made 34 securities available for tokenisation at launch on 28 October. It aims to improve liquidity, collateral mobility and capital efficiency by allowing assets to move between traditional and tokenised forms.
The service builds on the Depository Trust Company’s (DTC) role as a major securities custodian, with almost $30trn in assets under custody. Tokenised securities retain the ownership rights, investor protections and economic entitlements of their traditional counterparts, according to DTCC.
“By extending DTC’s resiliency, governance and operational standards into digital markets, we are establishing the foundation for responsible institutional adoption at scale,” explained Frank La Salla, president and chief executive of DTCC.
Twenty DTC participants so far have signed agreements to access the service, including Barclays, Bank of America, BNP Paribas, Citi, JP Morgan, Morgan Stanley, State Street and UBS, while further participants will be onboarded on a rolling basis.
One of the key benefits of DTS is that it supports 24/7 intra-chain peer-to-peer transfers between DTC-registered wallets, thus allowing eligible participants to move tokenised securities outside traditional market operating hours.
Its multi-network model is designed to connect conventional financial markets with blockchain infrastructure. At launch, it supports the Canton Network and DTCC’s private Besu network, with additional blockchain integrations planned for 2027.
DTS's development was a collaborative effort, with input from more than 150 firms through the DTC Digital Assets Solutions Industry Working Group. It brought together wallet providers, technology companies and digital asset businesses to support interoperability across the ecosystem.
“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 and president of clearing & securities services at DTCC.