The Depository Trust & Clearing Corporation (DTCC) is set to launch its Tokenization Service this month, following successful tests with over 30 firms in July. The service, scheduled for commercial release in October 2026, will enable participants to create tokenized versions of eligible securities held in custody at The Depository Trust Company (DTC). The initial offering includes 25 tokenized securities, representing approximately $30 trillion in assets, drawn from Russell 1000 equities, major ETFs, and US Treasuries.
The tokens will operate on a permissioned, multi-chain basis using the Canton Network and Hyperledger Besu. They adhere to established technical standards: CIP-56 on Canton and ERC-20 on Besu. The setup allows 24/7 peer-to-peer transfers between registered wallets on the same chain, though cross-chain transfers are not yet supported.
As of July 15, 2026, more than 30 firms, including BlackRock and JPMorgan, tested institutional workflows on these networks. The regulatory green light came in December 2025, with the SEC issuing a No-Action Letter for a controlled pilot focused on highly liquid assets over three years. DTCC plans to explore additional networks, such as Stellar and Circle’s Arc, depending on market demand.
The research suggests tokenizing $30 trillion in assets could enhance liquidity, increase collateral mobility, and lower transaction costs. However, questions remain about scaling beyond the initial testing firms and the potential fragmentation of liquidity due to the same-chain limitation. The mid-October announcement will provide details on pricing, participant eligibility, and the exact roster of securities.