The Depository Trust and Clearing Corporation is moving closer to bringing tokenized securities into the U.S. financial system. Through its subsidiary, the Depository Trust Company, DTCC has received approval to offer blockchain-based tokenization services, with a launch planned for the second half of 2026. The development highlights growing regulatory openness to digital assets within traditional market infrastructure .
DTCC plays a central role in U.S. markets, handling the clearing and settlement of trillions of dollars in securities. Therefore, its push into tokenization could signal a turning point for how assets move across financial systems.
How the Tokenization Service Will Work
The new service will allow securities held at DTC to be converted into blockchain-based digital tokens. These tokens will represent the same legal ownership and investor protections as traditional securities. However, they will use distributed ledger technology to improve how assets settle and transfer.
Key goals of the service include:
- Faster settlement times compared to existing processes
- Improved transparency across ownership records
- Better liquidity and collateral mobility for institutions
Furthermore, DTCC intends to integrate this system with existing custody and clearing operations. This approach aims to reduce disruption while introducing blockchain efficiency.
Regulatory Talks With the SEC
DTCC advanced the project after extensive discussions with staff at the U.S. Securities and Exchange Commission, including members of the SEC Crypto Task Force. These talks focused on how clearing agency rules apply to tokenized assets, along with technology standards and operational controls.
While tokenized securities do not yet have broad legal standing in U.S. markets, regulators have shown a willingness to explore no-action relief or customized oversight. As a result, market participants see this as a practical step toward regulatory clarity.
DTCC has explored digital assets for several years. It acquired Securrency in 2023, later rebranding it as DTCC Digital Assets. The firm has also tested blockchain use cases involving collateral and U.S. Treasuries.
Institutional interest in real-world asset tokenization continues to grow. Many believe regulated blockchain systems could modernize financial plumbing without sacrificing investor protection. If successful, DTCC’s initiative may encourage broker-dealers, custodians, and trading platforms to adopt tokenized securities at scale.
