DTCC to Start Tokenized Securities Trading in July, Eyes Full October Launch Covering $114T in Custodied Assets
The Depository Trust & Clearing Corporation (DTCC) plans to begin tokenized securities trading in July through limited production trades, ahead of a full service rollout scheduled for October. The initiative would extend DTCC's blockchain-based infrastructure to a custody base of $114 trillion in assets.
DTCC said the initial scope will target a defined set of highly liquid instruments, including Russell 1000 stocks, exchange-traded funds tracking major indexes, and U.S. Treasury bills, notes, and bonds.
More than 50 firms are participating in an industry working group that helped develop the service, spanning traditional finance and crypto-native platforms. Wall Street participants include BlackRock, Goldman Sachs, Bank of America, and Citadel Securities, alongside crypto firms such as Circle, Coinbase, and Kraken. Circle is the issuer of the USDC stablecoin, while Coinbase and Kraken operate cryptocurrency exchanges.
DTCC President and CEO Frank La Salla said the effort brings industry leaders together to support adoption of digital assets and to help bridge traditional finance with decentralized finance. He said tokenization could reshape market structure, citing potential benefits in liquidity, transparency, and efficiency.
DTCC's Depository Trust Company plays a central role in U.S. securities settlement, processing most equity and fixed-income trades in American markets. The plan follows regulatory progress earlier this year: in December, the U.S. Securities and Exchange Commission approved DTCC's pilot to record U.S. securities on selected blockchains via registered wallets.
The move comes as major market participants step up experimentation with tokenized assets. NYSE has partnered with Securitize on tokenized securities, and Computershare has also used Securitize to tokenize thousands of company stocks.
Nadine Chakar, DTCC managing director and global head of digital assets, said tokenization is a key step toward modern digital infrastructure. She said DTCC aims to support a scalable, risk-managed Web3 ecosystem powered by distributed ledger technology.
Market data underscore growing interest in real-world assets (RWA) on-chain. As of May 4, 2026, the RWA sector was valued at about $25 billion, according to DefiLlama. DeFi participation in RWAs totaled $1.97 billion in total value locked, while perpetual futures open interest was about $2.4 billion. The sector counted 163 issuers.
Bonds represented the largest segment at more than $15 billion, followed by precious metals at $5.6 billion and private credit at $2.6 billion. Public equities accounted for $838 million, with the remainder split across digital assets and other categories. The RWA market has expanded since 2022, with faster growth in 2024 and 2025.
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