The Depository Trust & Clearing Corporation (DTCC) has formalized the launch scope for its institutional tokenization service, set to go live in October 2026. The platform will enable 1:1 tokenized “digital twins” of securities already custodied at the Depository Trust Company (DTC), covering an initial universe of roughly $30 trillion in eligible assets. The opening phase includes select Russell 1000 large-cap equities, exchange-traded funds, and U.S. Treasury bills, notes, and bonds.
Each token retains the same CUSIP, ownership rights, and investor protections as the underlying book-entry asset. The rollout follows a December 2025 SEC no-action letter authorizing DTC to tokenize assets it already custodies, as well as a July 2026 production exercise in which more than 30 firms processed real trades using DTC-tokenized assets. Participants included BlackRock, Goldman Sachs, J.P. Morgan, CME Group, and Marex.
The service will launch on the Canton Network using the CIP-56 token standard and on DTCC’s private Besu network using ERC-20. Stellar via SEP-41 and Circle’s Arc network are expected to connect in 2027, with additional layer-1 and layer-2 networks to follow. Conversion requests will be accepted from 2 a.m. to 6 p.m. Eastern time on business days, with processing targeted at 15 minutes or less, while token transfers can move peer-to-peer among DTC-registered wallets 24/7.
DTCC emphasized that the service does not issue new securities or replace DTC’s official books and records. Smart contracts will include mint, burn, pause, and clawback controls, and ComposerX LedgerScan will provide near-real-time ownership tracking. On-chain U.S. Treasury servicing arrives at launch; on-chain net settlement, digital cash, and expanded corporate-action servicing are on the 2027 roadmap. Access is institutional only, not a retail trading venue.
