DTCC Executes First Production Trades With Tokenized Securities
The Depository Trust & Clearing Corporation (DTCC) announced the successful completion of its first trades using tokenized assets held at The Depository Trust Company (DTC) through the DTCC Tokenization Service, which is scheduled for a full launch in October 2026.
DTCC, the U.S. company that operates the world’s largest post-trade financial market infrastructure, said it converted securities held at DTC into tokens for the first time and used them to execute live market transactions.
The trades took place on July 15 through the DTCC Tokenization Service with participation from more than 30 organizations representing both traditional financial institutions and digital asset market participants. Participants included:
- BlackRock;
- Goldman Sachs;
- J.P. Morgan;
- BNP Paribas Securities Corporation;
- CME Group;
- Nasdaq;
- New York Stock Exchange;
- Circle;
- Chainlink;
- Microsoft;
- Vanguard;
- State Street Investment Management, and many others.
Assets were tokenized simultaneously on DTCC’s private blockchain network built on Hyperledger Besu and the public Canton Network blockchain. The approach aligns with the company’s multi-chain strategy, which is designed to improve infrastructure resilience, scalability, and interoperability.
The DTCC Tokenization Service enables the issuance of tokenized representations of traditional financial assets held at DTC and allows them to be delivered to digital wallets used by DTC participants. Assets can also be converted between traditional and tokenized formats.
The testing covered multiple asset classes and included:
- collateral pledge transactions;
- securities lending transactions;
- delivery-versus-payment (DVP) repo and U.S. Treasury trades;
- equity DVP transactions;
- equity delivery-versus-delivery (DVD) transactions;
- tokenized equity transfers;
- central counterparty (CCP) margin workflows.
Frank La Salla, President and CEO of DTCC, said the testing demonstrated that the new platform could deliver the same level of reliability, operational controls, and investor protections as traditional financial market infrastructure while providing the benefits of tokenization, including programmability, more efficient settlement, and improved liquidity management. He added that the DTCC Tokenization Service will expand access to new liquidity sources and digital asset strategies without changing ownership rights or existing investor protections.
The DTCC Tokenization Service is scheduled to launch in October 2026. The platform is being developed in collaboration with DTCC’s industry working group, which now includes more than 100 participants and partners. Another milestone came when DTC received a No-Action Letter from the U.S. Securities and Exchange Commission (SEC), allowing it to provide tokenization services for the real-world assets it holds in custody.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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