US-based financial infrastructure provider DTCC has announced plans to tokenize assets held in its depository onto the Stellar network, in collaboration with the Stellar Development Foundation. According to the statement, this move solidifies DTCC’s multi-blockchain strategy and was made possible after it received a “No-Action Letter” from the US Securities and Exchange Commission (SEC) in December 2025.
Background of the DTCC and Stellar collaboration
DTCC serves as a key infrastructure organization responsible for the central clearing and custody of securities in financial markets. Enabled by the SEC’s permission, DTCC’s new initiative will allow traditional assets held within its depository to have digital representations, delivered through the public Stellar network. This advancement will allow market participants to access their securely custodied securities on-chain, with improved speed and accessibility.
Frank La Salla, DTCC President and CEO, described the partnership as “an important step towards building an open, interoperable digital infrastructure,” adding that they are pleased to help market participants access deeper liquidity, higher efficiencies, and greater transparency on public blockchains by leveraging tokenized assets.
Tokenization promises to improve operational efficiency, allowing for more flexible collateral movement and extended trading hours. Nadine Chakar, a senior DTCC executive, highlighted that Stellar’s regulatory-ready design and high transaction throughput were decisive factors in choosing this network. DTCC also intends to integrate multiple Layer 1 and Layer 2 networks in the future to make the service as open and accessible as possible.
Mini glossary: Tokenization is the process of representing traditional financial assets as digital tokens on a blockchain. This process increases liquidity, transaction speed, and traceability, and is commonly employed by banks, exchanges, and financial infrastructure providers.
Which assets will be tokenized?
Under this partnership, DTCC and Stellar will initially focus on tokenizing shares of large US companies listed on the Russell 1000 index. Additionally, exchange-traded funds (ETFs) tracking broad market indices, as well as US Treasury bills, bonds, and notes, will also be available on the new digital platform.
At the initial stage, tokenization will prioritize asset classes with high liquidity and significant importance for risk management. The collaboration aims to boost accessibility, facilitate institutional connectivity, and strengthen transparency in financial markets. All operations will maintain the existing standards of asset custody and investor protection.
| Asset Class | Tokenization Status | Network/Access |
|---|---|---|
| Russell 1000 stocks | Planned | Stellar network |
| Index ETFs | Planned | Stellar network |
| US Treasury bonds/bills | Planned | Stellar network |
Impact on the markets and sector analysis
Drawing on over 50 years of market experience, DTCC continues efforts to build the infrastructure necessary for broader adoption of tokenization. Executive Brian Steele expressed that this process encourages cooperation across all industry segments. Stellar Development Foundation CEO Denelle Dixon emphasized that connecting Stellar to regulated market infrastructure marks a new era for finance, noting that Stellar is built for institutional-grade applications.
The project is expected to set a standard across the sector for integrating traditional financial entities with public blockchain networks. The objective is to construct a more efficient and interoperable global financial ecosystem.
This collaboration signals a major shift in how securities and other traditional assets can be accessed and managed, blending time-tested financial infrastructure with emerging blockchain technology.
By targeting highly liquid and widely held asset classes, DTCC and Stellar aim to accelerate the adoption of blockchain in mainstream finance.
With regulatory backing and attention to custody protections, the initiative is poised to bridge legacy systems with the benefits of open networks.
As development continues, market observers are watching to see how other financial institutions might follow suit, potentially ushering in broader blockchain integration across asset classes.
Ultimately, the project’s phased approach could pave the way for even more comprehensive tokenization of financial instruments on public blockchains.
