Depository Trust & Clearing Corporation (DTCC), a major Wall Street operator, announced on Monday that it will commence limited production trades of tokenized securities in July, with a broader launch planned for October. The new service, developed within DTCC's Depository Trust Company, enables firms to issue digital versions of assets currently held in custody while maintaining the same ownership rights and protections. Over 50 firms, including BlackRock, Goldman Sachs, JPMorgan, and crypto-native companies such as Anchorage and Circle, have contributed to the development of the system.
As a core component of market infrastructure, DTCC's move marks one of the most concrete timelines for adopting blockchain-based settlement. With its central role in U.S. markets, processing trillions of trades daily and holding over $114 trillion in securities, DTCC's effort underscores the growing interest in tokenization among traditional financial institutions. Tokenization, which involves representing assets like stocks or bonds on a blockchain, has the potential to reduce settlement times, cut costs, and increase market participation.
According to Frank La Salla, DTCC President and CEO, 'We believe tokenization will significantly alter how markets function, bringing new levels of liquidity, transparency, and efficiency to investors.' Other Wall Street operators, such as Nasdaq and Intercontinental Exchange, are also exploring tokenization, with plans to issue blockchain-based shares and partner with crypto platforms. These initiatives reflect a broader push to create a shared infrastructure for trading stocks, bonds, and digital assets. DTCC has been working towards this goal, having tested distributed ledger systems and joined projects like the Canton Network. In December, the firm received a no-action letter from the SEC, allowing it to offer tokenization services for a defined set of assets.