DTCC said it will launch its tokenized securities service in October, following limited production trading that is set to begin in July. More than 50 firms have joined the effort, including BlackRock, Goldman Sachs, Coinbase, Circle, Nasdaq, NYSE Group, and Payward, the parent company of Kraken. The project is designed to bring real-world assets onto blockchain infrastructure while staying inside existing U.S. market rules.
Initial asset list focuses on liquid securities
At launch, the service will cover highly liquid instruments, including Russell 1000 equities, major ETFs, and U.S. Treasury securities. DTCC said tokenized holdings on the platform will carry the same legal rights as traditional securities, including ownership protections, entitlements, and regulatory safeguards. The company’s approach is not to create a separate legal category, but to place familiar financial instruments on blockchain rails.
Blockchain settlement added to existing market structure
DTCC said the platform is meant to integrate with current systems rather than replace them. Trading activity will continue under existing compliance standards, with blockchain-based settlement inserted into the present market structure. CEO Frank La Salla said collaboration across the industry supports broader digital asset adoption and is aimed at connecting traditional finance with blockchain-based systems. Nadine Chakar, DTCC’s head of digital assets, said the work is centered on scalability and interoperability.
July testing will examine workflows and cross-chain functions
The limited production phase planned for July will test operational workflows as well as cross-chain interoperability before the full rollout in October. Brian Steele, DTCC President of Clearing and Securities Services, said the system targets areas where liquidity already exists in the market and that the development reflects industry demand. DTCC also said it currently holds custody of more than $114 trillion in assets, giving the initiative a base inside established market infrastructure.
On the regulatory side, DTCC said the U.S. Securities and Exchange Commission granted the service a no-action letter in December 2025, allowing operations for three years under defined conditions. As tokenized equities and funds continue to expand, DTCC’s rollout adds a large piece of market infrastructure to the broader push to move securities on-chain.