DTCC has officially launched its Tokenization Service, allowing eligible financial institutions to create blockchain-based representations of securities held in DTC custody while preserving existing ownership rights and investor protections. The service follows SEC no-action relief granted in December 2025 and input from more than 150 financial firms.
The platform is initially integrated with the Canton Network and DTCC's private Besu network. Twenty DTC participants have signed agreements to access the service, including JPMorgan, Bank of America, Barclays, Citi, Fidelity Investments, Morgan Stanley, State Street and UBS. Other participants include BNP Paribas, Citadel Securities, Alpaca, Apex Clearing, Brown Brothers Harriman, Clear Street, DriveWealth, Edward Jones, Marex, Mirae Asset Securities and Velocity Capital.
At the Meridian 2026 conference, DTCC Digital Assets head Nadine Chakar and Stellar Development Foundation CEO Denelle Dixon confirmed that Stellar will be the first public blockchain integration, expected in the first half of 2027. According to Stellar, Chakar said the network met DTCC's blockchain requirements with high marks. The planned integration is part of DTCC's multichain strategy for tokenized securities across different networks.
DTCC holds more than $114 trillion in assets under custody. The service creates digital twins of securities that can be converted between traditional and tokenized forms and transferred to participating institutions' digital wallets without changing economic entitlements. The initiative aims to improve capital efficiency, collateral mobility and institutional access to digital asset markets.
The launch builds on earlier production testing, including a July pilot involving BlackRock, JPMorgan, Goldman Sachs, Vanguard and the New York Stock Exchange. More than 30 firms completed limited production transactions involving tokenized securities, including equity transfers, securities lending, collateral pledges and U.S. Treasury repurchase agreements.
