DTCC’s $114 trillion depository goes live with tokenization, 20 banks signed
DTCC’s depository subsidiary put its tokenization service into production with 20 major banks signed on, converting $114 trillion of custody holdings into digital-wallet-ready tokens.
The Depository Trust & Clearing Corporation put its tokenization service into production on October 28, with twenty of its clients, including Citi and JPMorgan, already signed on to use it.
The service runs inside the Depository Trust Company, DTCC’s securities depository, which holds more than $114 trillion in stocks and exchange-traded funds. According to the company’s announcement, eligible users can mint tokenized representations of securities held at DTC and deliver them to digital wallets, with the tokens carrying the same ownership rights, investor protections and economic entitlements as the underlying securities. The company said DTS “will convert between traditional and tokenized forms of securities that are transferable to digital wallets and retain the same ownership rights and investor protections as their traditional counterparts.”
DTCC called the service a “practical path” for tokenized securities adoption. The company did not publish a full roster of the twenty signing participants, and outlet lists of the names differ; only Citi and JPMorgan appear in both lists circulated on launch day. Other names attributed to DTCC’s announcement include Fidelity Investments, Morgan Stanley, State Street, Bank of America, BNP Paribas, UBS, Citadel Securities, Alpaca, Clear Street and DriveWealth.
For now the plumbing is closed. The service is integrated with the permissioned Canton Network and DTCC’s private Besu network, with additional blockchain networks planned for 2027, so tokenized custody currently lives entirely on permissioned rails rather than public chains. JPMorgan’s Kinexys unit already operates on Canton Network, one of the two chains DTS uses today.
The launch follows a December 2025 SEC no-action letter that cleared DTC to tokenize Russell 1000 constituents, major-index ETFs and US Treasury securities. DTCC ran a pilot of tokenized securities trading in July 2026 and said it would target a full service launch in October; after the letter, DTCC and more than 30 firms completed initial limited-production trades.
The groundwork ran wider than the sign-ups: the service was developed with input from more than 150 firms.
