DTCC Tokenization Service Launches on Canton Network
The Depository Trust & Clearing Corporation (DTCC) has launched its tokenization service, which will handle part of the securities volume the DTCC moves every year, estimated to be $4.7 quadrillion.
The service will start on two chains: the Canton Network and LFDT Besu, an enterprise variant of Ethereum technology maintained under the Linux Foundation. Stellar is expected to follow in early 2027.
US Treasury securities held in DTC custody come first to be tokenized, and the service will handle tasks such as collateralizing loans with securities, securities lending, delivery versus payment in Treasuries and equities, repurchase agreements, dividend payments, and margin calculation.
The DTCC has received a no-action letter from the US Securities and Exchange Commission (SEC) dated December 11, 2025, which will expire three years after the service goes live.
More than 50 institutions are participating in the working group, including BlackRock, JPMorgan, and the NYSE.