The company that settles almost every U.S. stock trade is about to let some of those stocks move as tokens. Its newest launch sheet also answers the question crypto timelines keep asking: which blockchains are actually on the list.
The Depository Trust & Clearing Corporation (DTCC) has said its Tokenization Service will open in October 2026. A one-page “Day 1” tear sheet and roadmap, dated Oct. 23 and posted on DTCC’s learning site, lays out what the service does at launch and what comes later.
What is on the Day 1 list
- 34 securities available to tokenize at launch. An overview DTCC published on Oct. 16 put that number at 25, as CantonNews and TokenPost reported at the time. The tear sheet does not name the 34.
- About $30 trillion of assets eligible to be tokenized over time. DTC holds more than $114 trillion in total, according to DTCC.
- Three asset types: select large-cap Russell 1000 stocks, select ETFs, and a select set of U.S. Treasury bills, notes and bonds.
- Two networks live at launch: the Canton Network (CIP-56 token standard) and Besu, DTCC’s own private network (ERC-20).
- Two networks “anticipated in 2027”: Stellar (SEP-41) and Circle’s Arc (ERC-20), plus “additional L1s and L2s aligned with client and market demand.”
How it works
Each token is backed one-for-one by a security held at DTC and keeps the same CUSIP, the same rights and the same investor protections as the regular, book-entry version. DTC keeps the official books and records.
DTC participants place conversion orders through a web interface or an API from 2 a.m. to 6 p.m. ET on business days, with a target of 15 minutes or less. After that, tokens can move peer-to-peer 24/7, but only between DTC-registered wallets on the same network. Wallet registration opens at launch for “select third-party wallets.”
The tokens are “compliance-enabled” with transfer restrictions. DTCC’s product page says DTC-issued tokens include mint, burn, pause and clawback functions. For Treasuries, interest payments and maturities are handled on-chain from day one, with the cash paid in regular dollars to participants’ traditional accounts.
The roadmap for 2027 and beyond lists more eligible securities, single sign-on and maker-checker controls, corporate-action servicing for stocks and ETFs, one combined stock record across book-entry and on-chain positions, and “settlement and collateral, including on-chain netting and digital cash.” DTCC says the roadmap is “indicative and subject to change” and tied to the SEC no-action letter.
The date
DTCC itself has said October. The most specific date in public comes from John Hallahan, a Fireblocks director, who said in an Oct. 17 video interview: “DTCC’s tokenization service is launching at the end of the month. I believe it’s on the 28th.” Hardwire did not find a DTCC announcement confirming Oct. 28.
The service runs under an SEC staff no-action letter from December 2025 that lets DTC operate a defined tokenization service for three years. In July, more than 30 firms took part in limited production trades on Canton and Besu, according to DTCC.
What is not on the list
Posts circulating on X say XRP, XLM and HBAR are “already inside” the launch. The tear sheet does not say that. The XRP Ledger and Hedera are not named anywhere on it. Stellar is named, but for 2027, not Day 1. Some of the claims point to Fireblocks, which supports many blockchains, but Fireblocks’ own chain support is not DTCC’s network list.
For Canton, Day 1 is the headline: it is one of only two networks at launch, and the only one not run by DTCC.
Sources: DTCC (Tokenization Service tear sheet and roadmap, Oct. 23, 2026; Tokenization Service product page; May 4, 2026 press release); DTCC Learning Center; CantonNews; TokenPost; Crypto Briefing; CoinTurk News.