The Depository Trust & Clearing Corporation says its Tokenization Service is now live. As of Wednesday morning, DTCC’s product page lists 34 securities available to tokenize at launch.
What it does. The service lets eligible DTC participants convert certain securities they already hold at DTC into tokens. According to DTCC, each token is backed one-for-one by the security held at DTC, keeps the same CUSIP identifier, and carries the same legal rights and economic interests as the underlying security. Tokens can move between DTC-registered wallets around the clock, but only within the same network.
What it doesn’t do. This is not a new market open to retail investors, and it is not a public token sale. DTCC describes it as a voluntary service for DTC participants. It operates under a Securities and Exchange Commission no-action letter issued in December 2025, which covers a three-year authorization period. DTCC also says built-in token controls support compliance and near real-time ownership tracking.
Scale, in context. DTCC’s page puts assets under custody at DTC at about $30 trillion. That is the pool the service draws from, not the amount tokenized. The launch list of 34 securities is a small starting set, and DTCC has not published usage figures.
Which networks. DTCC’s Day 1 tear sheet, dated Oct. 23, lists Canton and DTCC’s private Besu network as live at launch. It shows Stellar and Circle’s Arc as “anticipated in 2027” and calls the roadmap “indicative and subject to change.” Wallet providers shown on DTCC’s page include BitGo, Blockdaemon, Fireblocks, HashKey, Kaleido, Talos and Tradeweb.
Stellar’s week. Separately, Securitize said Wednesday it plans to integrate the Stellar network, which it called its 17th supported network. It gave no timeline and named no first products. On Tuesday, Janus Henderson and Centrifuge launched JQQQ, a Nasdaq-100 fund issued on Stellar for non-U.S. professional investors; as of Tuesday afternoon, Centrifuge’s fund page said it was still “seeding” and not yet open for investment. Neither announcement is connected to DTCC’s service.
What to watch. How quickly the list grows beyond 34 securities, how much participants actually tokenize, and whether the 2027 network additions hold to schedule.
Sources: DTCC, DTCC tear sheet, Securitize (PR Newswire), Janus Henderson, Centrifuge, CoinDesk.