DTCC Sets Timeline for New Tokenization Service
The Depository Trust & Clearing Corporation ("DTCC") announced plans to begin its long-anticipated tokenization service with limited trades starting in July 2026, followed by a full commercial launch in October.
DTCC said that its tokenization service will convert real-world assets already held in DTC custody into digital tokens — while preserving the same entitlements, investor protections, and ownership rights as their traditional counterparts. DTCC said that the initial eligible universe, authorized under a December 2025 SEC No-Action Letter, includes Russell 1000 constituents, major index ETFs, and U.S. Treasuries. DTC currently custodies more than $114 trillion in assets, giving the service an enormous potential addressable base.
The DTCC said that more than 50 firms — including custodians, asset managers, broker-dealers, trading venues, and crypto-native players — have been collaborating through a DTCC Industry Working Group to shape how the service works in practice.
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In a no-action letter, the SEC Division of Trading and Markets permitted The Depository Trust Company to operate a voluntary securities tokenization program, that would allow the tokenization and transfer of eligible securities on distributed ledgers.
