InstitutionsActive· US

DTCC

DTCC processes virtually all US securities settlement, so its tokenization service is the roadmap for the whole post-trade stack, not an experiment. The July pilot and October launch put a concrete date on when tokenized Russell 1000 stocks and Treasuries clear through the same rails as everything else. When the settlement backbone moves onchain, everything upstream follows.

dtcc.com ↗#canton#treasuries#depositoryStale, re-verify May 14, 2026
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Brief

Central securities depository for virtually all US securities settlement. Building a tokenization service under a December 2025 SEC no-action letter that authorizes three years of tokenized record-keeping for Russell 1000 stocks, major-index ETFs, and US Treasuries. On May 4, 2026 it convened a 50+ firm Industry Working Group (BlackRock, Goldman Sachs, JPMorgan, Franklin Templeton, Morgan Stanley, Circle, Anchorage, and others) to set standards. Completed live production trades using DTC-tokenized securities on July 15, 2026, with conversions on Besu and Canton. Service launch remains targeted for October 2026. Separately tokenizing DTC-custodied treasuries on Canton Network and collaborating with LayerZero's Zero blockchain. A Stellar connection was announced May 27, with availability expected in the first half of 2027.

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Primary sources

Checks cover the claims listed below. Other details may still need review.

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Recent activity

Latest moves on the changelog feed.

  • Jul 15, 2026NEW

    DTCC completed production trades using DTC-tokenized assets, with conversions on Besu and Canton. The trades are complete; the broader tokenization-service launch remains targeted for October.

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Snapshot

Key terms and identifiers.

Asset classes
Treasuries, Equities
Regulatory
dtcc-settlement-2026
Jurisdiction
US
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Milestones

How this player got here.

  1. Jul 2026Completed production trades using DTC-tokenized securities; October service launch remains targeted
  2. May 2026Announced DTC tokenization-service connection to Stellar, expected H1 2027
  3. May 2026Convened 50+ firms (BlackRock, JPMorgan, Goldman, Morgan Stanley, Ondo, Circle, Anchorage) into the Industry Working Group
  4. Dec 2025Received SEC No-Action Letter authorizing 3-year tokenization service for Russell 1000, ETFs, and US Treasuries
  5. Feb 2025T+0 settlement roadmap published
  6. Nov 2024Canton Network settlement pilot
  7. May 2024Smart NAV pilot with mutual funds
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Connections

Who they build with, build on, integrate with.

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