DTCC Tokenization Service: What’s Live and What’s Next?

DTCC has officially launched its Tokenization Service, marking a major milestone in bringing blockchain technology into the heart of US securities infrastructure.

What is live?

• 34 securities, including Russell 1000 index, exchange-traded funds (ETF) and U.S. Treasury bills, notes and bonds, are initially available for tokenization, with approximately $30 trillion in potentially eligible assets

• 20 financial institutions signed up, including JPMorgan, Citi, Morgan Stanley and UBS

• Canton Network and DTCC's private Besu blockchain supported at launch

• 24/7 tokenized securities transfers between registered wallets, preserving existing ownership rights and investor protections

What comes next?

The longer-term opportunity extends beyond simply representing assets as tokens on blockchain:

• Expanding blockchain connectivity and securities eligibility: Stellar and Circle's Arc blockchain integration is on the horizon.

• Integrating digital cash and delivery-versus-payment settlement: unlocks more efficient transaction and liquidity management

• Progressively extending on-chain capabilities across securities market infrastructure: enables collateral mobility across assets

The bigger picture

DTCC Tokenization Service approach demonstrates how trusted financial market infrastructure can evolve towards blockchain-based capital markets while preserving institutional safeguards.

Rather than replacing existing systems overnight, tokenization is providing a foundation for progressively deeper transformation.