DTCC said its DTC Tokenization Service is scheduled for commercial launch in October 2026, following production transactions completed on Canton Network on July 15 as a final operational stress test. More than 30 companies took part in those transactions, which covered collateral pledging, securities lending, U.S. Treasuries and repo DVP, equity DVP, equity DVD, tokenized equity transfers, and CCP margin workflows across Canton Network and LFDT’s Besu. The regulatory basis was established on Dec. 11, 2025, when the U.S. Securities and Exchange Commission issued a three-year no-action letter authorizing DTC to operate tokenization services for assets it holds in custody on pre-approved blockchains. The service is supported by DTCC’s ComposerX platform suite. DTCC also said the industry working group now includes more than 50 companies, naming firms such as BlackRock, JPMorgan, Goldman Sachs, Citi, Bank of America, Morgan Stanley, Schwab, State Street, Nasdaq, NYSE, Circle, Ondo, Ripple Prime, Fireblocks, BitGo, Tradeweb, and Virtu. According to DTCC data, global high-quality liquid assets total $300 trillion, with only 10% to 11% currently used as collateral.
DTCC said its DTC Tokenization Service is planned for commercial launch in October 2026.
Before that launch, the service completed production transactions on Canton Network on July 15 in what DTCC described as the system’s final operational stress test. More than 30 companies participated in the transactions. The tests covered collateral pledging, securities lending, U.S. Treasury and repo delivery-versus-payment, equity DVP, equity DVD, tokenized equity transfers, and central counterparty margin workflows across Canton Network and LFDT’s Besu.
Regulatory clearance and platform support
The regulatory basis was established on Dec. 11, 2025. On that date, the U.S. Securities and Exchange Commission issued a no-action letter authorizing DTC to operate tokenization services for assets it holds in custody on pre-approved blockchains. The authorization runs for three years.
The service is supported by DTCC’s ComposerX platform suite.
Working group members and market data
The industry working group now includes more than 50 companies. DTCC named BlackRock, JPMorgan, Goldman Sachs, Citi, Bank of America, Morgan Stanley, Schwab, State Street, Nasdaq, NYSE, Circle, Ondo, Ripple Prime, Fireblocks, BitGo, Tradeweb, and Virtu among the participants.
DTCC data shows that global high-quality liquid assets total $300 trillion, while only 10% to 11% are currently being used as collateral.
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