The Depository Trust & Clearing Corporation (DTCC) announced on July 15, 2026, that securities held at The Depository Trust Company (DTC) had been converted into tokens and used in live institutional trades involving more than 30 firms. The initiative tested whether blockchain-based transactions could operate through established market infrastructure without changing investors' protections, entitlements, or ownership rights. DTCC is one of the largest financial market infrastructures globally, handling trillions of dollars in securities transactions each day and safeguarding tens of trillions in assets.
BlackRock, CME, Goldman Sachs, JPMorgan, NYSE, Nasdaq, Vanguard Among 30+ Participating Firms
Participants included Alpaca, BetaNXT, Bitgo Bank & Trust, N.A., BlackRock, Blockdaemon, BNP Paribas Securities Corporation, Broadridge, Chainlink, Circle, Citadel Securities, CME Group, Digital Asset Holdings, Drivewealth, DRW, Fireblocks, Flow Traders, FTSE Russell, Goldman Sachs, HIFI, Invesco, and J.P. Morgan. The group also included Kaleido, Linux Foundation Decentralized Trust, Marex, Microsoft, Nasdaq, New York Stock Exchange (NYSE), Ondo Finance, Prometheum Capital, S&P Dow Jones Indices, Societe Generale, State Street Investment Management, Talos, Temple Digital Group, Tradeweb, Vanguard, Velocity Capital LLC, and Virtu Financial Inc. Together, the firms represented exchanges, banks, asset managers, trading companies, wallet providers, blockchain operators, and technology platforms.
DTCC Tests Collateral, Lending, Treasury, Repo, Equity Workflows Across Two Blockchain Networks
Over several hours, participants tested collateral pledges, securities lending, central counterparty margin processes, and token transfers. The event also included U.S. Treasury and repo delivery-versus-payment transactions, equity delivery-versus-payment trades, and equity delivery-versus-delivery trades. The digital conversions took place on Hyperledger Besu, an enterprise Ethereum-based blockchain platform that served as DTCC's private network, and Canton, a public network created by Digital Asset Holdings. The initiative tested DTCC's multi-chain strategy for interoperability, resiliency, scalability, and participant choice. Brian Steele, president of Clearing & Securities Services at DTCC, stated that DTCC showcased how tokenization can enable real-time collateral mobility, enhance liquidity and capital efficiency, reduce counterparty risk and support interoperability between traditional and digital ecosystems.
DTCC Plans October 2026 Launch of Tokenization Service
The planned DTCC Tokenization Service will create digital representations of assets held at DTC. Participants will be able to receive them in selected wallets and move securities between traditional and tokenized forms without removing the underlying assets from DTC custody. The service was developed with the DTCC Industry Working Group, which has grown to more than 100 members and partners. The live event followed a no-action letter issued by the U.S. Securities and Exchange Commission (SEC) seven months earlier, authorizing DTC to operate a tokenization service for assets under its custody. DTCC plans to launch the service in October 2026.
FAQ
What did DTCC announce on July 15, 2026?
DTCC announced that securities held at The Depository Trust Company (DTC) had been converted into tokens and used in live institutional trades involving more than 30 firms. The initiative tested whether blockchain-based transactions could operate through established market infrastructure without changing investors' protections, entitlements, or ownership rights.
Which workflows did DTCC test during the tokenization event?
Participants tested collateral pledges, securities lending, central counterparty margin processes, token transfers, U.S. Treasury and repo delivery-versus-payment transactions, equity delivery-versus-payment trades, and equity delivery-versus-delivery trades across Hyperledger Besu and Canton blockchain networks.
When does DTCC plan to launch its tokenization service?
DTCC plans to launch the DTCC Tokenization Service in October 2026. The service will create digital representations of assets held at DTC and allow participants to move securities between traditional and tokenized forms without removing underlying assets from DTC custody.
