Crypto

DTCC's tokenization service goes live with JPMorgan, Citi and Morgan Stanley signed up

The Depository Trust Company launched a service that creates tokens representing securities it holds on the Canton Network and its private Besu chain, with 20 firms signed up and 34 securities eligible at launch.

By Jennifer Walsh · Oct 28, 2026, 12:10 PM EDT

Why it matters: Eligible stocks, ETFs and Treasuries held at DTC, 34 at launch, can now move as tokens backed one-for-one by the real securities, a step toward blockchain inside mainstream market plumbing.

For information only, not investment advice.

The plumbing under US stock and bond markets now has a blockchain wing. The Depository Trust Company, part of DTCC, launched its tokenization service on Wednesday, minting tokens that represent securities it already holds and that can be converted back into the traditional form. DTC has more than $114 trillion in assets under custody.

The service runs on the Canton Network and DTCC's private Besu network. Twenty firms have signed agreements to use it, including J.P. Morgan, Citi, Morgan Stanley, Bank of America and UBS. At launch, 34 securities are eligible, a mix of equities, Treasuries and ETFs, Ledger Insights reports.

The tokens are backed one-for-one by securities at DTC, and DTCC says they keep the ownership rights and investor protections of the originals. That separates them from synthetic stock tokens that track a share price without granting ownership, CoinDesk noted.

"Around the clock" comes with limits. Tokens move 24/7 only between registered wallets. Per Ledger Insights, moving between chains, or converting to and from regular form, goes through DTC's conversion service, which runs from 2am to 6pm ET on business days.

DTCC says more blockchains will be added in 2027; CoinDesk and Ledger Insights report those include Stellar and Circle's Arc. The launch rests on a December 2025 SEC no-action letter covering Russell 1000 stocks, major-index ETFs and Treasuries.

Tags: fintech · banks · sec