Major Wall Street operator Depository Trust & Clearing Corporation (DTCC) said on Monday it will begin limited production trades of tokenized securities in July, with a broader launch of its platform set for October.
The service, built within DTCC’s Depository Trust Company, will allow companies to issue digital versions of assets already held in custody while retaining the same ownership rights and protections, according to the press release.
The system is being shaped with input from more than 50 firms, including BlackRock, Goldman Sachs, JPMorgan and crypto-native companies like Anchorage and Circle, the firm said.
The effort marks one of the most concrete timelines yet from a core market infrastructure move into blockchain-based settlement. DTCC sits at the center of US markets, processing trillions of trades daily and acting as a custodian for more than $114 trillion in securities.
Tokenization – the process of representing assets such as stocks or bonds on a blockchain – has attracted increasing interest among traditional financial institutions. Proponents say it can reduce settlement times, cut costs and open markets to new entrants.
“We believe tokenization will significantly change how markets function and operate, bringing new levels of liquidity, transparency and efficiency to investors,” said Frank La Salla, DTCC’s President and CEO.
Wall Street’s tokenization push
DTCC’s move comes as other Wall Street operators push toward tokenization.
Nasdaq is working on a framework for companies to issue blockchain-based shares and is partnering with crypto exchange operator Kraken’s parent company to distribute them globally, with a potential launch as early as 2027. The Intercontinental Exchange, which owns the New York Stock Exchange, has also backed plans for tokenized shares through a deal with its large target base on crypto platform OKX, which will leverage its large crypto platform for OKX.
These efforts reflect a broader race to build what some call an “everything exchange,” where stocks, bonds and digital assets are traded on shared infrastructure.
DTCC has been gradually building towards this moment. The firm has been testing distributed ledger systems for years and has joined projects such as the institution-focused Canton Network (CC). In December, it received a no-action letter from the SEC that allowed it to offer tokenization services for a defined set of assets, including Russell 1000 stocks, ETFs and US Treasuries.
Read more: Here’s why Nasdaq and NYSE owner are putting $126 trillion stock market on blockchain
