In December 2025, the Depository Trust & Clearing Corporation partnered with Digital Asset and the Canton Network to tokenize selected U.S. Treasury securities held at the Depository Trust Company.

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The Depository Trust & Clearing Corporation plans to launch commercial access to its Tokenization Service at the end of October 2026, making approximately $30 trillion in securities held at its Depository Trust Company subsidiary eligible for tokenization.

The Depository Trust & Clearing Corporation selected a private environment based on Hyperledger Besu, operating under the ERC-20 standard, to run alongside the Canton Network for its initial tokenization rollout.

The Depository Trust & Clearing Corporation plans to integrate public blockchain networks Stellar and Circle's Arc into its Tokenization Service in 2027.

Converting traditional securities into tokens via user interface or API can be submitted between 2:00 a.m. and 6:00 p.m. Eastern Time on business days, with a target processing time of 15 minutes or less.

Tokens issued through the Depository Trust & Clearing Corporation Tokenization Service are backed 1:1 by underlying securities held at the Depository Trust Company and retain their existing CUSIP identifiers.

The Depository Trust & Clearing Corporation's Tokenization Service will launch with an initial selection of 25 liquid instruments, including U.S. Treasuries, major ETFs, and Russell 1000 stocks.

The Depository Trust Company remains the official owner of the registry and maintains legal custody, ensuring investors retain all legal rights and protections associated with underlying securities.

The Depository Trust & Clearing Corporation selected the Canton Network, operating under the CIP-56 standard, as one of two closed platforms for its initial tokenization rollout.

In December 2025, the U.S. Securities and Exchange Commission granted the Depository Trust Company three years of no-action relief to offer tokenization services for selected Treasuries, ETFs, and Russell 1000 stocks.

The Depository Trust & Clearing Corporation chose isolated private network architectures for Hyperledger Besu and Canton Network because institutional capital is not ready to take risks on open ledgers.

On July 15, 2026, over 30 financial institutions conducted production trades using tokenized securities across Canton and Besu, testing collateral transfers, securities lending, Treasury repos, and equity transactions.

Registered participants can transfer tokenized securities between eligible wallets 24 hours a day, though initial transfers will be limited to wallets on the same blockchain.

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