DTCC to Launch DTC Asset Tokenization Service in October 2026
The Depository Trust & Clearing Corporation (DTCC) plans to commercialize a service that tokenizes DTC-held assets in October 2026. This marks a significant step towards implementing blockchain-based settlement and collateral movement in the U.S. securities market's post-trade infrastructure. On July 15, DTCC completed a limited production transaction utilizing tokenized DTC deposit assets on the Canton Network, which served as a final operational stress test. Over 30 companies participated in the transaction, focusing on collateral pledge establishment, securities lending, and delivery versus payment (DVP) for U.S. Treasury and repurchase agreements (RPs). The regulatory framework was established on December 11, 2025, and DTC received a no-action letter from the SEC, allowing it to provide tokenization services on a pre-approved blockchain for three years. This service, based on DTCC's ComposerX platform, targets DTC-held assets and involves a working group of over 50 participating companies. DTCC explains that only 10-11% of global high-quality liquid assets are currently used as collateral, and whether the tokenization service will change this ratio will be assessed after commercialization.
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