The Depository Trust Company (DTC), a core subsidiary of The Depository Trust & Clearing Corporation (DTCC), has introduced tokenization services allowing eligible users to mint digital representations of securities held at DTC. This initiative supports the conversion between traditional and tokenized securities while maintaining established ownership rights and investor protections.
New service enables clients to mint tokenized assets
The DTCC Tokenization Service (DTS) is now available for DTCC clients, offering the ability to switch between conventional and digital forms of securities. Tokenized assets can be transferred to digital wallets, giving users a seamless transition experience and keeping investor rights intact. DTCC, a leading financial market infrastructure provider, announced the rollout on Wednesday.
DTCC reported that 20 clients have already joined the tokenization platform, among them Alpaca, Citadel Securities, Citi, Clear Street, DriveWealth, Fidelity Investments, Interchange Clearing, and JPMorgan. These firms represent a range of key market participants in the financial services sector.
The new tokenization service aims to create a practical pathway for adoption of digital securities, according to DTCC. An official statement noted that the solution retains all the conventional benefits and legal safeguards associated with existing securities ownership structures.
SEC’s regulatory “no action” letter
The US Securities and Exchange Commission (SEC) issued a “no action” letter in December 2025, stating that SEC staff would not recommend enforcement measures against a DTCC subsidiary in relation to its tokenization initiative. This regulatory clarity was a significant step forward for the rollout of tokenized assets through established market infrastructure.
DTCC claimed that this guidance provided legal certainty for clients exploring the new service and could help accelerate broader industry adoption.
Technical integration and network expansion
Currently, the DTCC Tokenization Service operates on both the Canton Network and DTCC’s own Besu private network, with further integration of additional blockchain networks expected in 2027.
DTC, as a central securities depository, oversees custody of more than $114 trillion in assets, including equities and exchange-traded funds. This scale positions it at the heart of US market operations.
Mini dictionary: Canton Network is an interoperable blockchain network designed for institutional decentralized applications, providing privacy and control features demanded by financial institutions.
DTCC plans a wider rollout of tokenized securities trading, with a pilot set for July 2026 and full-scale service expected in October 2026.
| Milestone | Date |
|---|---|
| SEC “no action” letter | December 2025 |
| Tokenization pilot | July 2026 |
| Full-scale launch | October 2026 |
| Integration with further networks | 2027 |
The current integration with private and interoperable blockchain networks is designed to foster compatibility, security, and efficiency as the financial industry begins to explore the benefits of digitized securities.
