The Depository Trust & Clearing Corporation (DTCC) has launched its tokenisation platform into live production, marking the next step in its efforts to bring traditional securities infrastructure on-chain.
The landmark moment represents a shift from experimentation to production and follows the announcement from regulators in December 2025 which essentially green lit the initiative.
Developed through The Depository Trust Company (DTC), the service allows the tokenisation of eligible real-world assets while maintaining the rights and protections associated with traditionally held securities.
The service will initially operate in a controlled production environment for DTC participants and their clients – a reduced scope volunteered by the DTCC to ensure the pilot can be tested under real market conditions without creating unintended risk or disruption to the wider market.
That caution reflects the sheer scale of the market and the activity flowing through DTCC’s pipes. With over $100 trillion in assets and approximately 1.4 million CUSIPs in circulation, the organisation proposed starting with just 1,000 securities – focusing on the Russell 1000, along with Treasuries, large index ETFs and certain fixed income instruments.
The rollout follows months of industry testing involving more than 50 firms across custody, asset management, brokerage, trading venues and digital
asset infrastructure, including BlackRock, BNP Paribas, Citi, Goldman Sachs, JP Morgan, Morgan Stanley and State Street.
DTCC first outlined its roadmap for the service in May, confirming plans to begin limited production trades in July ahead of a broader launch planned for October.
DTCC said the platform is designed to help bridge traditional finance and decentralised finance by improving market efficiency, transparency and interoperability.
Speaking to The TRADE’s sister publication Global Custodian in February, Nadine Chakar, global head of DTCC Digital Assets, said that after months of engagement with both the SEC and its Crypto Task Force, the regulator’s urgency, responsiveness and guidance was “nothing short of spectacular”.